Cushman & Wakefield has helped procure a $66 million refinancing for J.P. Morgan’s Greater Meadowlands Industrial Portfolio, it announced this week.
The real estate firm served as exclusive adviser to institutional investors advised by J.P. Morgan Asset Management. The loan was provided by Deutsche Bank.
C&W’s equity, debt & structured finance team of Steven Kohn, John Alascio, Sridhar Vankayala, Chuck Kohaut, T.J. Sullivan and Maya Steinberger represented the borrower.
“Notwithstanding the volatile lending market this past spring, the combination of property type, location, tenancy and strong sponsorship resulted in a highly competitive capital markets execution,” Kohn said in a prepared statement.
The portfolio includes six industrial properties, totaling 591,349 square feet, in Carlstadt, Lyndhurst and Union. The properties, at 320 Veterans Blvd., 325 Gotham Parkway, 425 Gotham Parkway, 599 Gotham Parkway, 300 Chubb Ave. and Bridgepoint Port West, are currently 100% leased to seven tenants.
