The New York office of Holliday Fenoglio Fowler, LP (HFF) has arranged a $3.6 million refinancing for a 20,000 s/f office building that is completely leased to the Wealth Management Group of UBS.
HFF senior managing director Al Epstein worked exclusively on behalf of the borrower, 300PRW LLC, to secure the seven-year fixed-rate loan with Amalgamated Bank.
"The lender saw this loan as an investment in a very attractiveClass A suburban office property with a good leasing history located within an established and desirable market," said Epstein. "In today's economic scene, lenders seek out good sponsors, stable rent flows, and the ability to provide reasonable, not excessive loan underwriting. This property had it all."
The property is located at 300 Post Rd. West, across from Birchwood Country Club with easy access to both I-95 and the Merritt Pkwy. 300 Post Rd. West has been fully leased since its completion in 2000 for the wealth management business, which originally operated here under the Paine Webber banner. The two-story property includes an underground parking garage.