ISELIN, NJ—NGKF Capital Markets has brokeredthe sale of a $46.7 million non-performing commercial mortgage loancollateralized by 499 Thornall Street in Iselin,NJ. The property is a 260,120 square-foot, class A office buildingin Metropark Corporate Campus II, one of NewJersey's most sought-after submarkets.The holder of the note,Garrison Onyx, a partnership of GarrisonInvestment Group and Onyx Equities,retained NGKF Capital Markets to conduct the sale and solicit bidsfor the loan.
Executive managing director Steven Schultz,managing directors Tony Georgiev and JoshMalka, and leasing expertsHope Brodskyand vice chairman David Simson led the marketingand execution of the loan sale.
"Carrying out the sale process on the open market clearly helpedachieve the favorable outcome for our client,"Schultz says.
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