Jeremy Levart Of Oak Funding Provides $80 Million Refinance For Office Asset In Parsippany NJ
369, 389 And 399 Interpace Parkway, Parsippany, Nj, 07054
$80,000,000
$152/SF
Building Size
524,000 SF
Asset Type
Office
Closing
Mar 30, 2026
AI
The asset involved in this transaction is an office property located at 369, 389 & 399 Interpace Parkway in Parsippany, NJ, comprising a total of 524,000 square feet. The loan amount for this property is $80,000,000, specifically structured as a refinance.
Summary of transation details:
- Property Type: Office
- Transaction Amount: $80,000,000
- Asset Size: 524,000 SF
- Location: 369, 389 & 399 Interpace Parkway, Parsippany, NJ
- Lender: Jeremy Levart - Oak Funding
- Landlord: Rubenstein Partners, L.P. & Vision Real Estate Partners
- Loan Type: Refinance
Jeremy Levart from Oak Funding serves as the lender in this transaction. The landlords involved are Rubenstein Partners, L.P. and Vision Real Estate Partners, highlighting the entities behind the ownership of the property.
Players
Parsippany Office Market Snapshot
Boundary boundary · Office · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.20%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93