Cushman & Wakefield Brokers $66.6M in Financing for One Newark Center in New Jersey
POSTED ON DECEMBER 4, 2017 BY AMY WORKS IN LOANS, NEW JERSEY, NORTHEAST, OFFICE
Located at 1085 Raymond Blvd. in Newark, N.J., One Newark Center features 423,028 square feet of office space.
NEWARK, N.J. — Cushman & Wakefield has arranged $66.6 million in acquisition financing secured by One Newark Center, located at 1085 Raymond Blvd. in Newark, for Beijing Ideal Group. Morgan Stanley Bank provided the 10-year, fixed-rate financing. The property in the transaction represented floors 6 through 22 of One Newark Center, a 22-story, 423,028-square-foot office building, along with the adjacent 10-story parking garage. John Alascio, Sridhar Vankayala and Noble Carpenter of Cushman & Wakefield represented the borrower in the transaction.