Holliday Fenoglio Fowler, L.P. (HFF) has arranged $6 million in financing for 501 and 601 Penhorn Ave., two industrial buildings totaling 100,000 s/f.
HFF worked on behalf of Bhasin Properties to secure the long-term, fixed-rate loan through Principal Real Estate Investors.
501 and 601 Penhorn Ave. are situated on seven acres close to I-95/The New Jersey Tpke. and the Lincoln Tunnel. The properties are 100% leased to 5,000 s/f tenants that require close proximity to New York City.
The HFF team representing Bhasin Properties was led by senior managing director Jon Mikula.
Bhasin Properties specializes in the development and leasing of master-planned, office and warehouse buildings in the area.
HFF operates out of 19 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry.
HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, advisory services, structured finance, private equity, loan sales, and commercial loan servicing. www.hfflp.com.