Cushman & Wakefield announced that it served as the exclusive advisor to Advance Realty Investors and Greek Development in arranging $235 million of permanent financing for Buildings E and G at Linden Logistics Center in Linden, New Jersey. Buildings E and G are two Class A facilities totaling over 1.32 million square feet. The 10-year, fixed-rate loan was provided by Northwestern Mutual.
A Cushman & Wakefield Equity, Debt & Structured Finance team led by John Alascio, Chuck Kohaut, T.J. Sullivan, John Spreitzer, Sebastian Sanchez and Zachary Smolev represented the borrower.
“This is the culmination of the first of several phases in our development program and we are so pleased to expand our great relationship with Northwestern Mutual,” said Advance Realty Investors CEO Peter Cocoziello. “Currently we’re under construction with the second phase encompassing another 1.6 million square feet in three separate buildings and look forward to delivering this phase in the third quarter of 2022.”
“Today’s announcement serves as a testament to both the strength of the project and the combined hard work of everyone involved,” said Frank Greek, CEO at Greek Development. “Alongside our key project partners, we’ve successfully provided a Class-A logistics space in the Port of NY/NJ region and look forward to Linden’s continued momentum and success.”
