ALLENDALE, NJ—Meridian Capital Group negotiated a $35.3 million mortgage for the refinance of the Allendale Corporate Center, a flex office property located in Allendale, NJ, on behalf of Laino Enterprises.
The 10-year loan, provided by a CMBS lender, features a fixed-rate of 4.5 percent, and three years of interest-only payments followed by a 30-year amortization schedule. The transaction was negotiated by Emil DePasquale, Meridian senior vice president, who is based in Meridian's Iselin, NJ office.
Allendale Corporate Center is located at 40 Boroline Road in Allendale, NJ and is composed of six flex office buildings totaling 389,225 square feet.
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