Arrow Real Estate Advisors arranges $21.45 million life company refinance for Class A office property in Parsippany, NJ

Parsippany, NJ Arrow Real Estate Advisors has arranged a $21.45 million refinancing for Signature Acquisitions secured by a 203,506 s/f Class A office property located at 14 Sylvan Way. The loan was provided by Symetra Life Insurance, a life company lender, and the transaction was brokered by Morris Betesh, founder and managing partner, Omar Ferreira, senior vice president, Jacob Petrovic, associate, and Jonah Schultz, analyst, of Arrow Real Estate Advisors.

“Single-tenant office transactions require a clear credit story and a long-term perspective, particularly when lease rollover is part of the underwriting discussion,” said Betesh. “In this case, the strength of the tenant, the triple-net structure, and the quality of the asset created a compelling opportunity for life company capital. We were pleased to deliver a refinancing that provides Signature Acquisitions with stability and positions the property well for the years ahead.”

The property is fully leased on a triple-net (NNN) basis to Travel + Leisure, providing strong and durable cash flow. The combination of single-tenant credit tenancy, NNN lease structure, and the asset’s location within one of northern New Jersey’s most established suburban office corridors positioned the property as a compelling candidate for institutional life company capital.

A key consideration in the transaction was an upcoming lease rollover, which required careful underwriting despite the stability offered by the single-tenant NNN structure. In today’s selective office lending environment, lender focus centered on tenant credit quality, long-term occupancy outlook, and the sustainability of cash flow beyond the initial lease term.

Arrow Real Estate Advisors strategically positioned the transaction around the strength of the tenant, the Class A quality of the building, and the predictability of the NNN income stream. By aligning the opportunity with a life insurance lender focused on long-term income durability, Arrow secured a refinancing solution that delivered certainty of execution and long-term stability for the sponsor while appropriately addressing lease rollover considerations.