Jersey Investors Growth Co. LP Refinances Sparta Retail Property For $21.5M

Located in Sparta, the retail property at 5 & 8 Town Center Dr recently underwent a closed transaction. The property spans an impressive 87,984 square feet, contributing to its appeal in the market. The deal involved a refinance loan, secured from Aegon Asset Management. The loan amount was $21,500,000, and the terms were set at a fixed rate for a period of 10 years. The landlord, Jersey Investors Growth Company L.P., an affiliate of Hekemian & Co. Inc., played a significant role in facilitating the transaction. A team from JLL, including brokers Thomas Didio, Thomas E. Didio Jr., and Salvatore Buzzerio, represented the parties involved.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $21,500,000
• Address: 5 & 8 Town Center Dr, Sparta
• Landlord: Jersey Investors Growth Company L.P., an affiliate of Hekemian & Co. Inc.
• Lender: Aegon Asset Management
• Brokers: Thomas Didio, Thomas E. Didio Jr., & Salvatore Buzzerio - JLL

This transaction showcases the active real estate market in Sparta and highlights the involvement of key individuals and companies. The brokers from JLL, namely Thomas Didio, Thomas E. Didio Jr., and Salvatore Buzzerio, played a crucial role in representing the parties in the deal. The collaboration between the landlord, Jersey Investors Growth Company L.P., and the lender, Aegon Asset Management, helped facilitate the refinance loan for this notable retail property.