Mark Levy Of Altman Logistics Properties Secures $22M Loan From Truist Bank For Development Site

The property involved in this transaction is a development site located at 30 & 20 Lanidex Plaza West in Parsippany. The asset has a building size of 140,000 square feet and is positioned in a market conducive for logistics development.

Summary of transation details:

• Property Type: Development Site
• Transaction Amount: $22,000,000
• Lender: Truist Bank
• Landlord: Mark Levy - Altman Logistics Properties; Stijn Vos - Renard Investments Group; Joep Cuppen, Boris Ziermans & Wouter Vos - DHS Real Estate Investment Management B.V
• Brokers: John Alascio & TJ Sullivan - Cushman & Wakefield
• Loan Type: Construction
• Market: Parsippany

This project secures a loan from Truist Bank to finance Apex Logistics, a Class A logistics development set to replace a demolished office building. The venture is being undertaken in collaboration with Renard Investments and DHS Real Estate, with the ground-breaking scheduled for Q1, aiming for completion by late 2025.