July 1, 2020 Comments (0) Views: 249 New Jersey, New York News, Tri-State Area New York

Princeton Offices Obtain Refi from Univest

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Cushman & Wakefield advised ML7 in obtaining a $19.5-million refinancing on 750 College Road East, a 101,489-square-foot office property in Princeton, NJ. The loan was provided by Univest Bank and Trust.

A Cushman & Wakefield Equity, Debt & Structured Finance team of Gideon Gil, Sridhar Vankayala, Zachary Kraft and Maya Steinberger represented the borrower.

“This process commenced post-Covid and is a testament to the strength of this asset, as well as all the parties involved in this process, that we achieved such a seamless execution,” said Gil. “ML7’s strong sponsorship coupled with steady fundamentals in the Princeton office market led Univest Bank and Trust to put forth a compelling financing package that emphasized their understanding of the client’s long-term goals.”

ML7 president Jeffrey Siegel added, “Univest demonstrated a real understanding of the Princeton market and a commitment to an excellent lender-borrower relationship.”

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