JLL Capital Markets has arranged $29.9 million in acquisition financing for the purchase of a Madison office building, it announced Thursday.
The sale of 7 Giralda Farms, a 236,809-square-foot property, was first announced in August.
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JLL worked on behalf of the borrower, a joint venture of Bergman Real Estate Group and an affiliate of Eightfold Real Estate Capital, to place a four-year, floating-rate loan with Shem Creek Capital.
The JLL Capital Markets debt placement team was led by Michael Klein and Greg Nalbandian, senior managing directors, and Gerard Quinn, analyst.
“Our client acquired this off-market transaction at a very attractive basis in the highly desirable Giralda Farms Office Park,” Nalbandian said in a prepared statement. “There was considerable lender interest for this value-add financing, which demonstrated there is strong liquidity for well-capitalized sponsors with sound business plans.”
