CARTERET, NJ-As reported in late June, Lexington Realty Trust, sold the two-story, 150,000-sf former Pathmark Supermarkets headquarters at 200 Milik St. here for $14.7 million . The buyer was reported as the Hackensack, NJ-based Cofinance Inc. subsidiary of Luxembourg’s Cofinance Group.

Now, it has been revealed that Cofinance had a partner in the class B office acquisition, namely the Stamford, CT-based RiverOak Investment Corp. And while Pathmark was acquired by A&P in late 2007 and has consolidated its administrative functions to the latter’s Montvale, NJ headquarters, it still has an absolute net lease on the building through the end of 2011.

“This project has considerable downside protection because the Pathmark lease provides significant cash flow through the end of their lease term,” says RiverOak managing director Stephen DeNardo. “We have reached an agreement that permits us to re-lease the space, which assists Pathmark in mitigating its rent exposure.

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