Cushman & Wakefield recently assisted Altman Logistics Properties in securing joint venture equity and construction financing for The Park at Parsippany, a redevelopment project located at 20 and 30 Lanidex Plaza in Parsippany, NJ. The joint venture equity was provided by a European family office, while Truist provided the construction financing for the approximately $40 million development.
The Cushman & Wakefield team of Gary Gabriel, David Bernhaut, Kyle Schmidt, Frank DiTommaso Jr., Ryan Larkin and Seth Zuidema represented CSB Holdings LLC in the sale of their 140,000-square-foot office property to BBX. The final sale price was $15.9 million.
According to Schmidt: “This deal aligns with BBX’s strategy of expanding their development pipeline throughout New Jersey. This is just one example of several office buildings in Parsippany that will be transformed into state-of-the-art industrial facilities.”
Cushman & Wakefield’s Equity Debt & Structured Finance team consisting of John Alascio,TJ Sullivan , Chuck Kohaut , Chris Lentz , Jason Blankfein and Ethan Sokolow worked on behalf Altman to secure both JV equity funding as well as construction financing for this project.
Overall,the former content has been rewritten with more concise language while still conveying all necessary information about Cushman&Wakefield’s involvement in procuring joint venture equity and construction financing for an industrial redevelopment project located at 20and30LanidexPlaza,Parsippany,NJ.Additionally,the mentionofthe recent saleofa nearbyofficepropertyhasbeen includedto showcaseBBX’sstrategyandfurtherhighlightCushmandealingskills.Finally,the last sentence has been rephrased slightly but maintains its original meaning regarding Cushmans roleinsecuringthefundingforthisproject.
