Walker & Dunlop Arranges $60 Million Loan From Hudson Bay Capital For Bell Works Fort Monmouth

A $60 million bridge loan was arranged from Hudson Bay Capital to refinance a mixed-use asset located at 1 Commvault Way in Tinton Falls, NJ. The property encompasses 276,900 square feet and is part of the Bell Works Fort Monmouth campus, which is undergoing repositioning into a mixed-use "metroburb" amid strong leasing momentum and redevelopment in the area.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Amount: $60,000,000
• Asset Address: 1 Commvault Way
• Market: Tinton Falls, NJ
• Lender: Hudson Bay Capital
• Landlord: Ralph Zucker - Inspired by Somerset Development; Sami Mnaymneh - H.I.G. Realty Partners; Tony Tamer - H.I.G. Growth Partners
• Brokers: Dustin Stolly, Aaron Appel, Sean Reimer, Keith Kurland, Jonathan Schwartz, Adam Schwartz, Ari Hirt, Stanley Cayre - Walker & Dunlop
• Loan Type: Bridge

The refinancing was initiated on behalf of a joint venture comprising Inspired by Somerset and H.I.G. Realty Partners, aiming to support the ongoing transformation of the former Commvault headquarters into a vibrant mixed-use campus within the Fort Monmouth region.