Faropoint Receives $90M Loan for Refinancing of Northern New Jersey Industrial Portfolio

by Taylor Williams

NORTH BERGEN, N.J. — Locally based investment firm Faropoint has received a $90 million loan for the refinancing of a portfolio of 10 industrial buildings totaling 770,000 square feet in North Bergen, located across the Hudson River from New York City. The buildings are all located within two industrial parks and were fully occupied at the time of sale. New York Life Real Estate Investors provided the loan, specific terms of which were not disclosed, to Faropoint.

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