Urban Edge Properties Refinances Retail Property In Paramus, NJ For $290M

The retail property located at 1 Bergen Town Center in Paramus, NJ has undergone a loan refinance transaction. The property spans approximately 1,009,929 square feet and is owned by Urban Edge Properties. The loan, valued at $290,000,000, was provided by New York Life Insurance Company and MetLife Investment Management.

Summary of transaction details

• Property Type: Retail
• Transaction Amount: $290,000,000
• Address: 1 Bergen Town Center, Paramus, NJ
• Market: Paramus, NJ
• Lender: New York Life Insurance Company & MetLife Investment Management
• Landlord: Urban Edge Properties
• Brokers: Scott Aiese, Claudia Steeb & Alex Staikos - JLL

The loan refinance was facilitated by the brokers Scott Aiese, Claudia Steeb, and Alex Staikos from JLL. Their expertise and representation played a crucial role in the successful completion of the deal.