Scott Rechler Of RXR Realty Provides $103 Million Loan For Sylvan Corporate Center In Englewood Cliffs

The property involved in this transaction is Sylvan Corporate Center, a medical office campus located at 910-940 Sylvan Avenue in Englewood Cliffs, NJ, with a total square footage of 276,000. The loan amount provided for recapitalization is $103,000,000.

Summary of transaction details:

• Property Type: Medical Office
• Transaction Amount: $103,000,000
• Lender: Scott Rechler - RXR Realty
• Lender: Waterfall Asset Management
• Lender: New York Life Investment Management
• Landlord: Andrew Silverman - Andalex Group
• Loan Type: Recapitalization

The key individuals and companies behind the deal include Andrew Silverman, representing the Andalex Group, which owns the property. The financing provided will refinance existing debt and facilitate an expansion after Englewood Health signed a 20-year lease extension to increase its footprint to 202,000 square feet.