Columbia Pacific Advisors Secures $58 Million Refinance Loan For Short Hills Office Campus

The property asset involved in this transaction is a two-building office complex located at 101 & 103 John F. Kennedy Parkway in Short Hills. The total square footage of the asset is 320,000, with a loan amount of $58,000,000 secured through a refinance. The complex, which is 95% leased, is anchored by major financial firms, including Selective Insurance, which occupies the entirety of 103 JFK Parkway.

Summary of transation details:

• Property Type: Office
• Transaction Amount: $58,000,000
• Loan Type: Refinance
• Loan Terms: five-year, floating-rate
• Lender: Hines & Rialto Capital Management
• Landlord: Alex Washburn & Stan Baty - Columbia Pacific Advisors
• Broker Representatives: Brad Zampa & Mike Walker - CBRE

The deal was arranged by brokers Brad Zampa and Mike Walker from CBRE, who successfully navigated multiple lender bids as confidence in the office sector improves. Columbia Pacific Advisors participated in this transaction through refinancing the office campus.