PE-Owned NJ Office Tower Lands $200M Refinance Loan

Law360, New York (August 29, 2012, 2:20 PM EDT) -- A unit of private equity fund Multi-Employer Property Trust has secured $200 million in refinancing for a New Jersey office tower it bought last year, broker Holliday Fenoglio Fowler LP and its affiliates announced Tuesday.

Provided by Prudential Mortgage Capital Co., the loan comes with a seven-year term and 3.5 percent fixed rate and replaces the short-term note the fund had landed in October to buy the property, according to HFF and MEPT. The fund is managed by NewTower Trust Co., Bentall Kennedy LP and Landon...
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