CBRE CAPITAL MARKETS ARRANGES $20 MILLION OFFICE LOAN IN N.J.

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WOODCLIFF LAKE, N.J. — CB Richard Ellis (CBRE) Capital Markets has arranged a $20 million loan for the refinancing of a Class A office property located in Woodcliff Lake. The building totals 118,092 square feet and is located at 155 Tice Blvd. The property's sole tenant is Eisai, which occupies this building and the one at 100 Tice Blvd. as its corporate headquarters. The loan carries a 7-year term and a 25-year amortization schedule. The borrower was Ridge Associates II LP. James Gunning of CBRE Capital Markets arranged the financing. Earlier this month, CBRE Realty Trust acquired 100 Tice Blvd., a 208,911-square-foot office building.

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