PARSIPPANY, N.J. — CBRE’s Debt & Structured Finance Group has secured a $69.5 million loan for the acquisition of two Class A office properties in Parsippany. Beverly, Mass.-based Brookwood Financial Properties purchased the properties, which total 529,362 square feet. Situated within a 182-acre corporate campus, Morris Corporate Center I offers 261,924 square feet and Morris Corporate Center II offers 267,438 square feet. The property is currently 78 percent occupied by a variety of tenants, including Zurich, ICAP-EBS, Ralcorp, Farmers Insurance and Medtronic. Brookwood plans to invest approximately $3 million in property upgrades. Charles Foschini, Christian Lee and Christopher Apone of CBRE’s Debt & Structured Finance Group brokered the three-year, interest-only floating rate loan, which was provided by Los Angeles-based Starwood Property Trust.
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