May 29, 2019
JLL Capital Markets arranged a $46.5-million loan to refinance Greenleaf at Howell, 5313 Rte. 9 N., a 343,354-square-foot retail power center in Howell, NJ.
The firm’s Aaron Appel, Jonathan Schwartz, Keith Kurland, Brett Rosenberg, Adam Schwartz and Brandon Krupetsky worked on behalf of Sun Equity Partners LLC to place the loan with JPMorgan Chase & Co.
“Sun Equity Partners has extensive experience in developing and repositioning large retail shopping centers,” said Appel. The borrower currently owns and manages a portfolio exceeding 10 million square feet across the United States, “further solidifying its experience and ability to boost in-place occupancy and cash flow at Greenleaf at Howell.”
The property is anchored by BJ’s Wholesale Club and LA Fitness. Sun Equity Partners acquired the property in May 2013 and redeveloped the 45.8-acre parcel into a popular shopping center.
For comments, questions or concerns, please contact Paul Bubny