CBRE ARRANGES $12.25 MILLION OFFICE ACQUISITION LOAN

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ROSELAND, N.J. — CB Richard Ellis (CBRE) has arranged $12.25 million in permanent acquisition financing for 425 Eagle Rock Avenue, a 128,034-square-foot office property located in Roseland. The property consists of a four-story, Class A office building that was 90 percent occupied at the time of closing. The loan carries a 10-year term with a fixed interest rate. CBRE’s Debt & Equity Finance Group secured the financing on behalf of the borrower, Marcon Roseland. The lender was a Connecticut-based commercial bank. CBRE’s Tri-State Investment Group also represented the seller, Principal Financial Group, in the disposition of the property.

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