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JERSEY CITY-HFF has delivered a $200 million refinance loan for Newport Tower, the 1.1-million-square-foot skyline icon here that was traded last year in what was said to be the biggest office deal ever in the state.
Last October, Multi-Employer Property Trust purchased the Newport Tower from Brookfield Office Properties for $377.5 million. On Wednesday, HFF announced it has arranged a $200 million loan at 3.5 % fixed rate for seven years for MEPT through Prudential Mortgage Capital Co.
The 12-year-old Newport Tower, located at 525 Washington Boulevard in the Newport area of Jersey City, is a 36-story LEED Gold-certified building situated on the Hudson River, directly across from the World Financial Center in Manhattan. Its amenities include a full-service caf
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