According to HFF, it has secured $11 million in acquisition financing for 2121 State Rte. 27, a 99,260 s/f, research and development facility. HFF arranged the financing on behalf of AG Net Lease Fund II, an affiliate of Angelo, Gordon & Co. Morgan Stanley Mortgage Capital Holdings LLC provided the 10-year, fixed-rate securitized loan, which will also be serviced by HFF.
The HFF team representing the borrower was led by managing director Evan Pariser and director Michael Klein.
2121 State Route 27 is 100% occupied by Revlon Consumer Products Corp., which utilizes the facility as its worldwide research and development center for all of its brands. Revlon has had a presence at the site since the 1950's. The property is part of the larger Edison Towne Corporate Centre, a 247,245 s/f complex located within close proximity to Interstate 287, the N.J. Turnpike and Garden State Pwy.
Angelo, Gordon & Co. is a privately-held registered investment advisor dedicated to alternative investing. The firm was founded in 1988 and currently manages approximately $24 billion. The firm is currently investing its second dedicated Net Lease fund, the $560 million AG Net Lease Fund II.
Holliday Fenoglio Fowler, LP (HFF) and HFF Securities LP (HFFS) are owned by HFF, Inc. HFF operates out of 20 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, advisory services, structured finance, private equity, loan sales, and commercial loan servicing. Tags: