Arrow Real Estate Advisors has arranged a $21.45-million refinancing for Signature Acquisitions, secured by a 203,506-square-foot Class A office property located at 14 Sylvan Way in Parsippany, New Jersey. The loan was provided by Symetra Life Insurance, and the transaction was brokered by founder and managing partner Morris Betesh, SVP Omar Ferreira, associate Jacob Petrovic and analyst Jonah Schultz.
“Single-tenant office transactions require a clear credit story and a long-term perspective, particularly when lease rollover is part of the underwriting discussion,” said Betesh. “In this case, the strength of the tenant, the triple-net structure, and the quality of the asset created a compelling opportunity for life company capital.”
The property is fully leased on a triple-net (NNN) basis to Travel + Leisure, providing strong and durable cash flow. According to Arrow, the combination of single-tenant credit tenancy, the NNN lease structure and the asset’s location within one of Northern New Jersey’s most established suburban office corridors positioned the property as a compelling candidate for institutional life company capital.
