JLL Secures Acquisition Financing for 104,000 SF Office Portfolio in Basking Ridge, New Jersey
BASKING RIDGE, N.J. — JLL has secured an undisclosed amount of acquisition financing for a 104,000-square-foot office portfolio in Basking Ridge, about 30 miles west of New York. TD Bank provided the loan, which carries a seven-year term and a fixed interest rate. The property, 180-188 Mount Airy Road, consists of two adjacent buildings and an ancillary structure. At the time of the closing, the buildings were 98 percent leased to a variety of tenants, including Global Bankers Insurance Group and Microchip Technology. The borrower was a partnership between PAG Investments and CIG Properties.