CushWake arranges $42.75M acquisition financing for 171.3-acre site

Stalwart Equities enlisted Cushman & Wakefield as exclusive advisor in procuring acquisition financing for a 171.3-acre site in Gloucester County.

SKW Funding provided the $42.75 million bridge loan, Cushman & Wakefield announced Feb. 23, for Logan Township Industrial Park, located in the property’s namesake municipality in South Jersey.

“Logan Township Industrial Park is ideally positioned in the Southern New Jersey industrial market that has really taken off over the past few years,” said John Alascio, part of the Cushman team that represented the borrower, in a  statement. “Combined with best-in-class sponsorship, the property drew significant lender interest that helped us to achieve highly competitive financing terms for this exciting acquisition.”

The rest of the Equity, Debt & Structured Finance team that worked with Alascio includes Chuck Kohaut, TJ Sullivan and John Spreitzer.

Zoned for industrial and more than 1 million buildable square feet, the site is located on Route 130 and anticipated to be fully entitled for development in the next 12 – 18 months, Cushman said.

Once completed, it will include two, Class A distribution facilities with ample trailer and car parking.

“Stalwart Equities has an impressive and growing industrial pipeline across the Tri-State Region. SKW offered market-leading financing terms that were compelling for Stalwart, resulting in a strong new lending relationship and fantastic outcome for our client,” added Sullivan.