ELIZABETH, NJ—Holliday Fenoglio Fowler arranged $23.8 million in construction financing for a 138,642-square-foot, state-of-the-art freezer warehouse in Elizabeth, NJ, that rolls directly into permanent financing to avoid interest rate risk. 

HFF worked on behalf of the developer, a partnership between Elberon Development Group and The Avidan Group, to place the construction/perm loan with The Provident Bank.  Due for completion in June 2016, the building will be 100 percent occupied by Seafrigo NA Cold Storage, a global logistics company for the food business that operates on several continents. 

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