JLL arranges acquisition financing deal for Carlstadt building

JLL Capital Markets has arranged acquisition financing for a light industrial building in Carlstadt, it announced recently.

The property at 2 Palmer Terrace is a 60,400-square-foot, single-tenant facility. JLL worked on behalf of the borrower, Legacy Capital, to place the acquisition loan with Sound Point Commercial Real Estate Finance.

Financial terms were not disclosed.

The team of Matthew Pizzolato and Thomas E. Didio Jr., both directors, represented the borrower.

“We continue to see tremendous demand from the lending community for well-located industrial product here in New Jersey,” Pizzolato said in a prepared statement. “We were thrilled to help the Legacy Capital team secure this acquisition loan.”