STAMFORD, CT—An affiliate of New York City-based George Comfort & Sons has secured a total of $90 million in debt financing from Mesa West Capital and RCG Longview for its 583,000-square-foot High Ridge Park Corporate Center office complex here.
The financing includes $77.5 million in short-term senior debt from Los Angeles-based Mesa West and a $12.5-million mezzanine loan from RCG Longview of New York City. A portion of the proceeds will go towards leasing costs associated with further stabilizing the property, according to Mesa West Capital.
“High Ridge Park Corporate Center is a model for other suburban office parks,” says Mesa West Principal Raphael Fishbach. “In addition, the combination of the property’s excellent location, recent capital investment, and sponsor’s strong reputation within the local leasing community will continue to make High Ridge Park Corporate Center an attractive destination for high quality tenants.”
The George Comfort & Sons affiliate acquired the property in 2003 and completed a multi-million dollar renovation that included new building lobbies and common areas, and several other amenity upgrades. The property is currently 83% leased.
This is the second significant financing deal by Mesa West in the northern suburbs of New York City in the past 30 days. Last month, the firm provided New Jersey-based Normandy Real Estate Partners with a $119-million loan to refinance a 1.4 million-square-foot suburban office portfolio in Westchester County, NY.