Strong Asset and Good Tenants Get Center 78 An $81M Refinancing

Center 78, 184 Liberty Corner Rd., Warren, NJ

WARREN, NJ—Cushman & Wakefield helped Normandy Real Estate Partners and Greenfield Partners to arrange $80.7 million of financing secured by Center 78, 184 Liberty Corner Road in Warren, NJ. The 10-year, fixed rate financing was provided by Natixis Real Estate Capital. Cushman & Wakefield negotiated attractive terms for the transaction, including loan proceeds (about $218 per square foot), an interest-only period and competitive reserve structuring, all of which fulfilled the sponsor’s needs.

“This was great timing to be in the market with such a strong asset and sponsor. The lending community expressed robust interest and we secured a strong execution,” says John Alascio, executive director of Cushman & Wakefield Equity, Debt & Structured Finance.