Zack Markwell Of Stonemont Financial Group Secures $64.5M Bridge Loan For Passaic Logistics Center

The property asset involved in this transaction is a newly constructed 295,506 square-foot industrial facility, located at 122 8th Street in Passaic, New Jersey. This Class A logistics center was completed in late 2024 and features 40-foot clear heights and 40 dock doors, situated on 17.7 acres in the Meadowlands submarket. The loan amount secured for the property is $64,500,000, categorized as a bridge loan.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $64,500,000
• Lender: TPG Real Estate Credit
• Landlord: Zack Markwell - Stonemont Financial Group; PCCP
• Broker: JLL

The deal involved JLL Capital Markets, which arranged the $65.4 million bridge loan from TPG Real Estate Credit for PCCP and Stonemont Financial Group. Key individuals in the transaction include Zack Markwell who represents the landlord. The property serves as a logistics hub in a prime location, contributing to its significance in the market.