JLL arranges Bridgewater campus refinancing

NJBIZ STAFF//June 6, 2018//

Listen to this article

JLL Capital Markets has completed a refinancing of the 310,000-square-foot Somerset Corporate Center IV in Bridgewater.JLL Capital Markets has completed a refinancing of the 310,000-square-foot Somerset Corporate Center IV in Bridgewater.

Somerset Corporate Center is comprised of five Class A office buildings totaling 1.25 million square feet.

JLL secured a $32.5 million refinance from Sterling National Bank on behalf of the owners, SJP Properties and PGIM Real Estate.

Managing Director Jonathan Schwartz, along with Vice Chairman Aaron Appel, Executive Vice President Brett Rosenberg and Associate Douglas Baillie led the JLL team on the refinancing.

“Somerset Corporate Center is widely known as the premier corporate headquarters location in Central New Jersey,” Schwartz said. “The property is centrally located within one of the country’s strongest corridors for the pharmaceutical and technology sectors.”