December 20, 2016
CBRE Capital Markets’ Debt & Structured Finance team arranged for $107.3 million in financing on behalf of Kuwait-based KFH Capital Investment Co. The funds were used to acquire the 337,543-square-foot Two Riverfront Plaza, in Newark, NJ, which is Panasonic Corp. of North America’s headquarters. The buyer paid $165 million to SJP Properties and Matrix Development Group.
James Gunning, Donna Falzarano and Stephen Joseph of CBRE’s Saddle Brook, NJ office secured a competitive loan provided by Ladder Capital. Two Riverfront is 100% occupied by Panasonic through April 2031. The lender accommodated the borrower’s financing objectives, despite the post-election lending climate.
Two Riverfront Plaza is in close proximity to Manhattan, which ended up attracting many potential buyers, according to the Wall Street Journal.
For comments, questions or concerns, please contact Amy Sorter