PRINCETON, NJ—Cushman & Wakefield is the exclusive advisor to an affiliate of ML7 in arranging an $18 million loan secured by 750 College Road East, a class-A office building located in Princeton, NJ. The non-recourse, three-year, floating rate financing was provided by Square Mile Capital Management LLC.
The 100,000-square-foot, three-story office building, which is situated in the prestigious Forrestal Center Office Park in Princeton, was built in 2001. 750 College Road East is three miles from Princeton University's primary campus. The building is fully leased to two tenants and is surrounded by a host of amenities including restaurants and parks.
A Cushman & Wakefield Equity, Debt and Structured Finance team of Gideon Gil, Sridhar Vankayala and Alex Lapidus represented an affiliate of ML7.
“ML7 created significant value by leasing up the building to full occupancy. Square Mile provided a creative funding solution to get the new tenants moved in and through their free rent periods,” noted Gideon Gil, a Cushman & Wakefield managing director.
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Steve Lubetkin
Steve Lubetkin is the New Jersey and Philadelphia editor for GlobeSt.com. He is currently filling in covering Chicago and Midwest markets until a new permanent editor is named. He previously filled in covering Atlanta. Steve’s journalism background includes print and broadcast reporting for NJ news organizations. His audio and video work for GlobeSt.com has been honored by the Garden State Journalists Association, and he has also been recognized for video by the New Jersey Chapter of the Society of Professional Journalists. He has produced audio podcasts on CRE topics for the NAR Commercial Division and the CCIM Institute. Steve has also served (from August 2017 to March 2018) as national broadcast news correspondent for CEOReport.com, a news website focused on practical advice for senior executives in small- and medium-sized companies. Steve also reports on-camera and covers conferences for NJSpotlight.com, a public policy news coverage website focused on New Jersey government and industry; and for clients of StateBroadcastNews.com, a division of The Lubetkin Media Companies LLC. Steve has been the computer columnist for the Jewish Community Voice of Southern New Jersey, since 1996. Steve is co-author, with Toronto-based podcasting pioneer Donna Papacosta, of the book, The Business of Podcasting: How to Take Your Podcasting Passion from the Personal to the Professional. You can email Steve at [email protected].
