CBRE Group completes 6.2M mortgage acquisition for space in Montvale

Emily Bader//September 15, 2014//

Listen to this article

CBRE Group Inc., a commercial real estate brokerage firm with offices in New Jersey, announced Monday that its Capital Markets Debt & Structured Finance team completed a $6.2 million first mortgage secured by a Class A office building in Montvale.The office building, located at 3 Paragon Drive, is nearly 100 percent occupied thanks to its two tenants, Pentax of America and Turner Construction.

James Gunning, Donna Falzarano and Evan Kleppe of CBRE completed the five-year, fixed-rate loan with a regional bank for an investment fund managed by The Davis Companies, in conjunction with its acquisition of the building.

ALSO ON NJBIZ:

S.F.W. blog: What’s the richest town in the state? How about the smartest? In New Jersey, the same place wins both

Health care data breach has hit 1 million N.J. patients since 2009

Slight uptick in gaming revenue for Atlantic City’s shrinking casino market