June 08, 2015 -
Front Section
M. Robert Goldman & Company, Inc. arranged $272.2 million in financing in two transactions for Long Island based GTJ REIT, Inc. Jonathan Goldman and John Robustello were responsible for the debt placements.
The first transaction of $233.1 million covered 28 properties through N.Y., N.J. and Conn. and was provided through MRG's correspondent relationship with AIG Asset Management on behalf of many of their insurance company subsidiaries.
The ten-year interest only loan, which is serviced by MRG, provided GTJ with funds to retire existing debt at a very attractive rate as well as additional liquidity for future transactions.
"The GJT Portfolio provided AIG with a diverse tenant roster as well as geographic diversity over 2 million s/f of space. As a portfolio lender they were able to accommodate all of the borrower's needs through their ability to control the documentation process," said Goldman.
Shortly thereafter MRG secured a $39.1 million acquisition loan for GTJ's purchase of the six property 734,000 s/f Sudler industrial portfolio in Piscataway with Allstate Life Insurance Company. The acquisition deepens GTJ's footprint in Northern N.J. which was primarily comprised of 400,000 s/f in Morris Plains.