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October 01, 2019 at 11:03 AM
CBRE Capital Markets’ Debt & Structured Finance team recently announced that it has secured a $150-million 10-year fixed-rate loan to refinance 111 River St., a 13-story, Class-A high-rise office tower in Hobken, New Jersey, that’s owned by Mack-Cali Realty Corp.
The brokerage firm reports the non-recourse loan for the Jersey City-based REIT was funded by Apollo Global Management through Athene Annuity & Life Assurance Co.
(Related: Northwestern Mutual Forms Joint Ventures With Shopping Center Manager)
Earlier this month, Mack-Cali Realty first reported it secured a $150-million mortgage on its 111 River St. office building in Hoboken, NJ, on Aug. 5 and used the proceeds of the refinancing of the 566,215-square-foot 13-story office building primarily to pay down unsecured corporate debt.
CBRE’s Shawn Rosenthal and Sunny Somaiya in the Debt and Structured Finance group, secured the loan on behalf of Mack-Cali Realty Corp.
