Capmark senior vice president Brian Campbell originated theloan, which closed in 21 days. Further details of the financingwere not released.


Located on 59 acres off Exit 12 of the New Jersey Turnpike, thecomplex is fully occupied on a long-term basis by food distributorWhite Rose Inc. It consists of 380 Middlesex Ave., an810,000-square-foot building--constructed in 1995 and expanded in2004--which includes a 49,000-square-foot office component thatserves as White Rose's headquarters. And the adjoining 580 PortCarteret Dr. is a freezer distribution facility built in 1997 andexpanded to its current 279,000 square feet in 2002.


The buildings were acquired by the New York-based KTR in Januaryfrom T/A Port Carteret and US Metal Refining Co. through theassignment of a purchase optionfrom White Rose. "These are two of the best high-bay distributionbuildings in Northern New Jersey," KTR partner John DiCola after the acquisition. "The long-term lease with WhiteRose provides stable cash flow positions."

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