RMC Anticipates $ 57 Million Loan to Acquire Silver from Honeywell


About Rubenstein Mortgage Capital

RMC is the platform for investment of Rubenstein Partners focused on mortgage loans, credit investment, and capital markets. RMC offers completely discretionary loan solutions to balance sheets of office and transitional office project developers looking for non-recourse initial mortgage financing that can cover up to 80 percent of capital structure. RMC offers flexible loan terms and directly originates loans, and also manages all of its investments. If you need a quick infusion of cash, you can use https://oakparkfinancial.com/ and get the money you need in time.

Filial to Rubenstein Mortgage Capital (RMC)

A affiliate that is part of Rubenstein Mortgage Capital (RMC) an online Private mortgage lending company, today announced the conclusion of a mortgage loan amounting to $ 57 million to fund the purchase, repositioning, and the re-letting of the 115 Tabor Road, a four stories, 465,000 sq / office building located located in Morris Plains, New Jersey. The financing for the initial loan covered a portion of the purchase cost and allowed the borrower, an affiliate from Argent Ventures, to acquire the building at 115 Tabor Road from Honeywell International.

The future loan advance is designed to mostly cover the cost of repositioning the building as an office building that is a Category A multi-tenant building. In this deal, Honeywell leased a significant part of the property for 11 years. Additionally, Global Aerospace recently signed an 11-year 27,000 s/ lease at Tabor Road. Tabor Road. The loan was negotiated through Andrew Murray at RMC, the platform for debt investments, which is run by Fred Harmeyer at Rubenstein Partners, LP, a vertically integrated real property investment advisor.

“Even in the midst of the ongoing crisis and uncertainty in the market it is still an opportunity to consider alternative lending on top-quality commercial buildings in transition that are in a good position to increase value such as the 115 Tabor Road, “notes Murray. “The area and the basic features of the building made it an excellent argument for RMC and our team’s expertise in this regional market as well as our financing innovation enabled us to provide smooth execution from loan to. ‘borrower. “

The property was originally constructed as a custom built structure in 2007 and was used as the headquarters for pharmaceutical company Pfizer. In the wake of the purchase by Pfizer in the hands of Johnson & Johnson, the building was left vacant until the year 2015 which is when Honeywell acquired the property and carried out an entire interior remodel. The new owners of the building at 115 Tabor Road, Argent Ventures will oversee the relocation and changing the location of the property into an important investment for the North New Jersey office market.

The 115 Tabor Road is located on over 40 acres. It also has the structure of a five-story parking garage that has a total of 1,335 parking spaces. The property offers a variety of facilities for tenants, including the auditorium, cafeteria with a basketball court, as well as a fitness center that is located on the first floor. The conveniently located building is just two miles away of Route 10 in New Jersey and one mile from Morris Plains Station in the Parsippany submarket.

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