HFF announces $14.5M refinancing for office property in Princeton, New Jersey
FLORHAM PARK, NJ – October 25, 2017 – Holliday Fenoglio Fowler, L.P. (HFF) announces the $14.5 million refinancing for 1 Independence Way, a 113,998-square-foot office property in Princeton, New Jersey.
The HFF team worked on behalf of the borrower, Normandy Real Estate Partners, to secure the 10-year, fixed-rate, securitized loan through LoanCore Capital.
1 Independence Way is located just north of Princeton University off of U.S. Route 1 in Princeton. The office property was completed in the 1980’s and is fully leased to S&P Global and ALK Technologies Inc.
The HFF debt placement team representing the borrower included senior managing director Jon Mikula and associate Matthew Pizzolato.
HFF and Holliday GP Corp. are licensed New Jersey real estate brokers.
About Normandy Real Estate Partners
Normandy Real Estate Partners is a leading real estate operator and investment manager headquartered in Morristown, New Jersey with offices in Boston, New York City and Washington, D.C. Normandy currently manages a series of discretionary real estate funds totaling approximately $1.5 billion of equity commitments. Normandy’s existing portfolio includes over 15 million square feet of commercial assets, four hotels and numerous land development sites. Normandy targets value added real estate investments in the gateway markets of Boston, Metro New York City, San Francisco, and Washington, D.C. where opportunities exist to enhance value through creative repositioning, financial restructuring, intensive management, and capital improvements. For more information, visit normandyrealty.com.
HFF and its affiliates operate out of 24 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF). For more information, please visit hfflp.com or follow HFF on Twitter @HFF.