July 1, 2020
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.”
For comments, questions or concerns, please contact Paul Bubny