Andalex Group Recapitalizes 276,000 SF Office, Healthcare Campus in Englewood Cliffs, New Jersey

ENGLEWOOD CLIFFS, N.J. — New York City-based Andalex Group has recapitalized Sylvan Corporate Center, a four-building, 276,000-square-foot office and healthcare campus in the Northern New Jersey community of Englewood Cliffs. RXR, Waterfall Asset Management and New York Life Investment Management jointly funded the recapitalization, though details on specific changes within the debt and equity components of the property’s capital stack were not disclosed. In connection with the recapitalization, Englewood Health executed a 20-year lease expansion and extension that will double its footprint at the property to approximately 202,000 square feet.