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PARSIPPANY, NJ-A financing package worth $8.5 million has been obtained by an entity of AVR Realty Co. for the 203,640 industrial building located at 2 Cranbury Rd. here. Located adjacent to the Morris Corporate Center, the two-story multi-tenant building was built in 1987.

M. Robert Goldman & Co. of New Jersey, based in Millburn, NJ, arranged the permanent financing, which will be used by the owner to pay off its original mortgage and provide additional capital. According to MRG-NJ senior vice president Richard Koch, the 10-year loan was placed with Woodmen of the World Life Insurance society, which the firm represents as an exclusive mortgage loan correspondent.

The transaction was sourced by Jonathan Goldman of the firm’s Great Neck, NY office, where parent M. Robert Goldman & Co. is based. It was structured and placed by Koch.

The parent MRG currently has a servicing portfolio of more than $600 million. The Millburn, NJ office was formed five years ago to provide financing services for income-producing properties in the Garden State.

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