11/7/2008

Financing arranged for $7.2 million medical arts building in North Jersey

by
The New Jersey office of Holliday Fenoglio Fowler has arranged $7.2 million in financing for the Summit Arts Medical Building in Hillsborough, N.J.

HFF arranged the financing for Summit Beacon Realty Associates, a joint venture of New Jersey-based real estate developers Summit Associates and Beacon Medical Realty. The five-year, fixed-rate mortgage was placed with TriState Capital Bank of Lawrenceville, N.J.

Summit Beacon Realty Associates has built, owns and manages 4.5 million square feet of office, high-tech and distribution space throughout New Jersey.

The Summit Beacon Medical Arts Building, located 105 Raider Blvd. in Hillsborough, contains 50,728 square feet and has 12 office suites that are occupied by medical and professional tenants. It is located about 40 miles west of New York City.

Address: 105 Raider Blvd., Hillsborough, N.J.

Size: 50,728 square feet

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Filed Under: Office

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