New York Life Insurance Provides $83M Construction Loan For Industrial Development In Morris Plains | 201 Tabor Road | Triston Stegall, Keith Kurland, Ari Hirt, Adam Schwartz, Aaron Appel, Jonathan Schwartz | Industrial | Loan

Summary

Loan

NEW JERSEY

Industrial

495,000 sqft

The industrial property at 201 Tabor Road in Morris Plains, featuring 495,000 square feet of Class A industrial space spread across 55 acres, secured a $83 million construction loan from New York Life Insurance Company. The property offers convenient access to major interstate highways.

Summary of transation details:

Property Type: Industrial
Transaction Amount: $83,000,000
Landlord: Joel Bergstein - Lincoln Equities Group; Donald Kuemmeler - PCCP
Brokers: Aaron Appel, Adam Schwartz, Ari Hirt, Jonathan Schwartz, Keith Kurland & Triston Stegall - Walker & Dunlop

The joint venture development deal involving Lincoln Equities Group, PCCP, and New York Life Insurance Company showcases the collaboration of key industry players in the financing and management of industrial properties.

Players

All
7

Agents
6
Agencies
1

Triston Stegall

Associate Director

Keith Kurland

Senior Managing Director

$226.7M Sold

Ari Hirt

Managing Director

$8.7M Sold

Adam Schwartz

Senior Managing Director

$226.7M Sold

Aaron Appel

Senior Managing Director

$266M Sold

Jonathan Schwartz

Principal

$230M Sold

Walker & Dunlop

Details

Deal Summary

FINANCED

IMAGE: Joel Bergstein, Donald Kuemmeler, Aaron Appel, Adam Schwartz, Ari Hirt, Jonathan Schwartz, Keith Kurland & Triston Stegall DATE: 02/28/2024 ADDRESS: 201 Tabor Road MARKET: Morris Plains ASSET TYPE: Industrial ~ SF: 495,000 ~ ACRES: 55 LENDER: New York Life Insurance (@NewYorkLife) LANDLORD: Joel Bergstein - Lincoln Equities Group; Donald Kuemmeler - PCCP BROKERS: Aaron Appel, Adam Schwartz (@AdamSchwartz88), Ari Hirt, Jonathan Schwartz (@JonSchwartz), Keith Kurland (@KaKurland) & Triston Stegall - Walker & Dunlop (@WalkerDunlop) LOAN AMOUNT: $83,000,000 LOAN TYPE: Construction Loan NOTE: Lincoln Equities Group and PCCP secured $83 million in construction financing for their joint venture industrial development in Morris Plains, NJ, with New York Life Insurance Company providing the loan. The property, located at 201 Tabor Road, features 495,000 square feet of Class A industrial space and convenient access to major interstate highways.

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Address201 Tabor Road

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