Holliday Fenoglio Fowler, L.P. (HFF) announces $41.5 million in acquisition financing for Middlesex Logistics Center, a fully leased, Class A, 507,000-square-foot warehouse and distribution center in the New York Metro-area community of Edison, New Jersey.
The HFF team worked on behalf of the borrower, Cohen Asset Management, to place the 10-year, fixed-rate loan with Principal Real Estate Investors.
Completed in 2014, the building features 36-foot clear heights, 101 loading docks and parking for 190 cars and 135 trailers. The property is located at 549 Mill Road in Edison, a community about 35 miles southwest of New York City and 25 miles from Port of Newark-Elizabeth. HFF arranged the original capital structure for the development in 2014.
The HFF debt placement team representing the borrower included senior managing director Jon Mikula and analyst Andrew Zilenziger.
“We were thrilled to assist Cohen Asset Management in its acquisition of Middlesex Logistics Center,” Mikula said. “Our history with the project goes back to 2014, and, since then, industrial product like this in and around the Exit 10 submarket is in high demand.”
HFF and Holliday GP Corp. are licensed New Jersey real estate brokers.
About Cohen Asset Management
Cohen Asset Management is a private real estate investment firm that is headquartered in Southern California with a regional office in Northern New Jersey. With a primary focus being the industrial sector, Cohen Asset Management has an established history as an active owner-operator that is comprises a team of seasoned real estate professionals who create value for the firm’s investors by establishing mutually rewarding relationships within the industrial real estate community in each of its target markets, particularly with tenants (our customers), brokers, sellers and ultimately the buyers of Cohen Asset Management’s real estate when the firm monetizes investments. Visit http://www.cohenasset.com for more information.
About Principal Real Estate Investors
Principal Real Estate Investors manages or sub-advises $74.5 billion in commercial real estate assets (As of September 30, 2018). The firm's real estate capabilities include both public and private equity and debt investment alternatives. Principal Real Estate Investors is a dedicated real estate group of Principal Global Investors, a diversified asset management organization and a member of the Principal Financial Group®. Principal Real Estate includes the companies of Principal Real Estate Investors LLC and Principal Real Estate Europe Limited.
About HFF
HFF and its affiliates operate out of 26 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform, including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF). For more information, please visit hfflp.com or follow HFF on Twitter @HFF.
