The five-year, adjustable-rate loan was provided by Nationwide Life Insurance Co., and it was arranged by Jon Mikula, senior managing director in the Florham Park, NJ office of Holliday Fenoglio Fowler, who worked on behalf of Hampshire. The loan represented 100% of the building's purchase price, according to Mikula.
The building, built in 1955, is located on a 3.3-acre site near Teterboro Airport. It is part of a Hampshire Cos. portfolio of assets that is currently valued at more than $1 billion. Hampshire is a full-service, private real estate investment fund manager founded and headed by the Hanson family.
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