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New Jersey Newsletter
New York

Owners secure $200M loan to refinance Bell Works complex in New Jersey

<em>(Credit: Acroterion)</em>
(Credit: Acroterion)

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A joint venture between Somerset Development and Adarsan Holdings plans to use a $200 million loan to refinance the Bell Works complex in Holmdel, New Jersey, Real Estate NJ reported. Lender Square Mile Capital Management LLC provided the loan, and a team of Meridian Capital Group brokers negotiated the financing, according to the outlet. “Today, with Bell Works nearly 100 percent leased, this refinance allows the sponsorship to finish building-wide capital improvements, fund tenant improvements and leasing commissions, and pay off their existing debt,” Meridian’s senior managing director Drew Anderman said in a statement. [RE-NJ]