JLL - PA
Loan $173.25 Million
Institution: Keystone Property Group
Financier: TPG Real Estate
Location: Philadelphia, PA
The Curtis is a 912,244 SF mixed-use development adjacent to Washington Square and Independence Hall in Philadelphia, PA. The 12-story Property includes 760,685 SF of office space, 52,443 SF of retail, 63 high-end residential units (currently under construction), and a 300-space parking garage.
51, 101 and 103 JFK Parkway
Loan $124.5 Million
Institution: Mack-Cali Realty Corporation
Financier: Citi and Goldman Sachs & Co.
Location: Short Hills, NJ
HFF secured $124.5 million in financing on behalf of the borrower, Mack-Cali, to acquire three Class A office properties at 51, 101 and 103 JFK Parkway in Short Hills, New Jersey. The buildings are fully leased to tenants, including KPMG, Merrill Lynch, Wells Fargo, Dun & Bradstreet and Investors Bank. Citi and Goldman Sachs & Co. provided the 10-year, fixed-rate loan.
Meridian Capital Group
The Grande at Metro Park
Loan: $50 Million
Financier: TD Bank ($35 M)
and Lakeland Bank ($15M)
Location: 3 Ronson Road, Iselin, NJ
Meridian negotiated $50 million in construction financing on behalf of SAMTD Woodbridge for The Grande at Metro Park—a luxury multifamily development. The 36-month, limited-recourse construction loan features a LIBOR-based floating rate and full-term interest-only payments with two 12-month extension options. The property will consist of 232 units across three, five-story buildings and will include 8,200 SF of retail space. Emil DePasquale arranged the financing. In a market where construction lending has become more challenging to obtain, Meridian was able to effectively advocate for the client, negotiate favorable terms, and syndicate the loan by identifying a participant lender.