Rosenthal and Gaccione of CBRE secure $75.8 million acquisition financing

Jersey City, NJ CBRE Capital Markets’ Debt & Structured Finance team has arranged up to $75.8 million in financing for the acquisition of 30 Montgomery St., a 16-story, 315,385 s/f class A office building. 

CBRE secured a two-year interest-only loan with three one-year extension options on behalf of a partnership between American Realty Advisors and Onyx Equities. Financing was provided by Deutsche Bank.

Shawn Rosenthal, executive vice president, and Jason Gaccione, senior vice president, of CBRE’s Midtown Manhattan office secured the balance sheet loan on behalf the borrower.

“The Exchange Place neighborhood—located within the Hudson Waterfront submarket—is going through a transformation that will result in a dynamic retail streetscape,” said Rosenthal. “30 Montgomery is well positioned to capitalize on this, with its redeveloped retail space and breathtaking views of the Hudson River from the office floors.  The lender was drawn to the exciting residential, retail and office activity in the growing and vibrant Jersey City market as well as the strong institutional buyer and experienced operating partner. ”

30 Montgomery is located adjacent to the Hudson light rail system, and within one block of the Exchange Place PATH train, which provides commuters with non-stop access to Wall Street in less than five minutes. The property underwent extensive renovations from 2013-2015—with more than $25 million of capital invested—which have transformed 30 Montgomery into a premier class A property.