Cushman&Wakefield Arranges $18.5 Million Financing and Advises on Joint Venture Equity for Clark Mi

NEW YORK - Oct. 30, 2015 - PRLog -- Cushman & Wakefield announced today that it raised an $18.5 million senior mortgage loan and served as advisor to a joint venture between Denholtz Associates and MB1 Capital Partners for the acquisition of the Clark Mixed-Use portfolio located in Clark, New Jersey. The five-year financing was provided by the Washington Trust Company.

The portfolio is situated on 21-acres of irreplaceable infill retail and industrial improvements located just off of Exit 135 of the Garden State Parkway, a major retail hub containing approximately 600,000 square feet of retail space. The portfolio is currently 96.5% leased with L’Oreal serving as the anchor tenant.

A Cushman & Wakefield Equity, Debt & Structured Finance team of John Alascio, John Spreitzer and Andre Hass, served as exclusive advisors on this transaction.

“The mixed-use nature of the portfolio coupled with the complex redevelopment strategy, and multiple tax lots required detailed underwriting and structure from the lending community,” said Mr. Alascio, a Cushman & Wakefield Managing Director. “Washington Trust provided seamless execution and facilitated a loan within the working needs of Denholtz and MB1.”

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Cushman & Wakefield is a global leader in commercial real estate services, helping clients transform the way people work, shop, and live. The firm’s 43,000 employees in more than 60 countries provide deep local and global insights that create significant value for occupiers and investors around the world. Cushman & Wakefield is among the largest commercial real estate services firms with revenues of $5 billion across core services of agency leasing, asset services, capital markets, facility services (branded C&W Services), global occupier services, investment management (branded DTZ Investors), project & development services, tenant representation, and valuation & advisory. To learn more, visit www.cushmanwakefield.com or follow @CushWake (http://www.twitter.com/cushwake) on Twitter.