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PLAINSBORO, NJ-A total of $5 million in fixed-rate permanent refinancing has been arranged for the 102,000-sf office complex located at 311-315 Enterprise Dr. in this south central New Jersey community. Situated on a 12-acre campus setting, the multi-tenant property consists of three, one-story buildings.

The refinancing was arranged through Delaware Investment Advisors Inc. by Ed Riedlinger, senior VP and managing director of the Philadelphia loan origination office of GMAC Commercial Mortgage Corp. The owner of the property, 311-315 Enterprise Drive LLC, was the beneficiary of the funding.

According to Riedlinger, “this is another example of a borrower taking advantage of today’s historically low rates to lock into a fixed rate for a long period of time. The self-amortizing nature of the loan eliminates the risk of refinancing in a period when capital is scarce.”

GMACCM, of course, is a wholly-owned subsidiary of GMAC Commercial Holding Corp. The borrower is a local partnership.

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