FINANCED
Walker & Dunlop Arranges $82.5M Loan For Newark Office Property With CTL Capital As Lender
11 Centre Place
Office
5,000,000 SF
5,000,000 SF
Financed 1 year ago
Summary
Loan
NEW JERSEY
Office
5,000,000 sqft
Located at 11 Centre Place in Newark, N.J., this office property was involved in a recent closed transaction. The property spans over 500,000 square feet and is owned by The Claremont Group.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $82,500,000
- Address: 11 Centre Place, Newark, N.J
- Market: Newark, N.J
- Lender: CTL Capital
- Loan Terms: The loan has a 21.5-year term, maturing in line with a recently renewed 20-year lease signed by the U.S. General Services Administration (GSA). The loan carries an interest rate of sub-3 percent and includes six years of interest-only payments.
The transaction was facilitated by brokers Aaron Appel, Keith Kurland, Jonathan, Adam Schwartz, Michael Diaz, and Michael Ianno of Walker & Dunlop.
Players
All
7
Agents
5
Agencies
1
Lenders
1
Details
FINANCED
IMAGE: Aaron Appel, Jonathan Schwartz, Keith Kurland, Michael Diaz, Michael Ianno & Adam Schwartz
DATE: 06/22/2021
ADDRESS: 11 Centre Place
MARKET: Newark, N.J
ASSET TYPE: Office
LENDER: CTL Capital
LANDLORD: The Claremont Group
BROKERS: Aaron Appel, Keith Kurland, Jonathan, Adam Schwartz, Michael Diaz & Michael Ianno - Walker & Dunlop
LOAN AMOUNT: $82,500,000
LOAN TERMS: 21.5-year term, maturing in line with a recently renewed, 20-year lease signed by the U.S. General Services Administration (GSA). The loan will pay interest at a sub-3 percent rate and includes six years of interest-only payments
SF: 500,000View on map
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Address11 Centre Place
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