The STRO Cos. lands $39M to refinance 8 N.J. warehouse assets with Signature Bank

The Millstein Family Office and the STRO Cos. recently announced it refinanced eight buildings in Woodbridge, Moonachie, Clifton, Woodland Park, Wyckoff and Roselle with Signature Bank, totaling $39 million.

The eight properties comprise of over 395,000 square feet of industrial, last-mile and logistics facilities in the Northern New Jersey Industrial Corridor. These assets provide connectivity to New York City and the Port of Newark and serve as strategic distribution points for their tenants.

“We are pleased to continue and to grow our relationship with Signature Bank,” said Jack Shulman, STRO’s director of acquisitions and capital markets. “Zachary Bermudez and his team were a pleasure to work with, and we look forward to doing more business with them in the future.”

“Industrial building demand continues to grow throughout New Jersey. STRO has built a solid foundation of these assets, resulting in its leadership position. Signature Bank, through our experienced CRE Group, has maintained its commitment to serve borrowers like STRO within this important arena,” said Zachary Bermudez, group director – senior vice president, Signature Bank’s Commercial Real Estate Lending Group.