Unconditional actions in Cushman
SKW Funding provided the $42.75 million bridge loan, Cushman & Wakefield announced Feb. 23, for Logan Township Industrial Park, located in the property’s namesake municipality in South Jersey.
“Logan Township’s industrial park is preferably located in the southern New Jersey commercial market that has taken off in recent years,” John Alascio, a member of Cushman’s team representing the borrower, said in a statement. “Combined with top-tier sponsorship, the assets have attracted abundant interest from lenders, which has helped us secure highly competitive financing terms for this exciting acquisition. “
The Equity, Debt team
Zoned for industry and with more than 1 million buildable square feet, the site is located on Highway 130 and is expected to be fully eligible for progression over the next 12 to 18 months, Cushman said.
Once completed, it will feature two Class A distribution services with enough parking for trailers and cars.
“Stalwart Equities has an impressive and developing commercial portfolio in the tri-state region. SKW introduced some of the most productive financing terms in the market that were attractive to Stalwart, resulting in a strong new loan date and effects for our client,” Sullivan added.