In the largest deal, a $31 million package covered a portfolio of five warehouse properties totaling almost 754,000 sf in South Brunswick, NJ. The financing for the unnamed borrower was placed with Thrivent Financial for Lutherans.
StanCorp Mortgage Investors provided the funding in three of the deals, including $1.5 million for the owner/user of a 47,000-sf industrial property in Carlstadt; $1.3 million for a partially owner-occupied, 14,000-sf office property in Hackensack, NJ; and $1.5 million for a 130,000-sf industrial complex in Hillside, NJ.
"StanCorp has been a busy lender for us, investing in the three recently closed loans, with six more in the company's pipeline," according to Wilcox.
And in Runnemede, NJ, GE Asset Management has provided a $2.1 million loan for a 40,040-sf flex property just off Exit 4 of the New Jersey Turnpike, within Runnemede Corporate Park. Further details were not released.
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