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Cushman & Wakefield Arranges $31.3 Million Acquisition Financing for Class A Office Property in Parsippany

11/30/2021

Parsippany, NJ – Cushman & Wakefield announced today that the real estate services firm served as the exclusive advisor to The Birch Group in the procurement of $31,310,000 in acquisition financing for 4 Gatehall, a 265,649-square-foot Class A office property located at 4 Gatehall Drive in Parsippany, New Jersey. The three-year loan was provided by Money360.  

4 Gatehall NJ (image)A Cushman & Wakefield Equity, Debt & Structured Finance team of John Alascio, Chuck Kohaut, TJ Sullivan and Meredith Donovan represented the borrower. 

“The property’s high-quality tenancy, prestigious corporate location and best-in-class sponsorship drove a highly competitive capital markets execution,” said Alascio. “We’re grateful for the opportunity to represent The Birch Group in the financing of this exciting acquisition.” 

4 Gatehall features a strong roster of corporate headquarters tenants including B&G Foods, McCabe Heidrich & Wong, GSH Group and Esseco USA. The property boasts a recently renovated amenity package including a full-service cafeteria, state-of-the-art fitness center and conference facility. The Birch Group will be continuing capital improvements at 4 Gatehall with extensive updates to the building’s exterior and full upgrades to the property’s front and rear lobbies, restrooms and common areas. 

“Money360 was quickly able to recognize the project’s compelling value proposition and worked with the sponsor to provide creative loan terms tailored to meet their unique needs,” added Kohaut. “This accretive financing will provide The Birch Group with the flexibility to successfully execute their business plan.”  

“As we continue to expand our portfolio of trophy office assets in key markets throughout the state, we’ll remain steadfast in our hands-on and diligent approach to asset management,” said Christopher DeLorenzo, executive vice president at The Birch Group. “With recently upgraded amenities and our additional improvements at 4 Gatehall combined with the property’s prime location in the heart of the Morris County business corridor, we see tremendous upside with this asset.” 

Situated at the intersection of Routes 202 and 10 just two miles from both I-287 and I-80, 4 Gatehall offers a highly accessible location with proximity to a rapidly expanding lifestyle amenity base within walking distance. 

About Cushman & Wakefield 

Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 50,000 employees in over 400 offices and 60 countries. In 2020, the firm had revenue of $7.8 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWakeExternal Link on Twitter. 

Cushman & Wakefield Media Contact

Jayden Lapin-Tatman (image)
Jayden Lapin-Tatman

Communications Manager • New York

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