Walker & Dunlop has arranged a $60 million bridge loan to refinance Bell Works Fort Monmouth, a mixed-use campus in Tinton Falls, NJ. The financing was secured for a joint venture between Inspired by Somerset and H.I.G. Realty Partners, the real estate platform of H.I.G. Capital. Hudson Bay Capital provided the bridge loan, which recapitalizes the property following its transition from a single-tenant headquarters to a multi-tenant mixed-use environment.
The Walker & Dunlop Capital Markets Institutional Advisory team, led by Dustin Stolly, Aaron Appel, Sean Reimer, Keith Kurland, Jonathan Schwartz, Adam Schwartz, Ari Hirt and Stanley Cayre, structured the refinancing on behalf of the ownership venture. The new debt replaces existing financing on the campus and is designed to support the asset through its current phase of leasing and operational growth.
Bell Works Fort Monmouth was previously home to the Commvault headquarters and has since been redeveloped into a mixed-use destination. The campus now features flexible office space, retail offerings, dining options, coworking environments and community-focused amenities, repositioning the property as a suburban hub that blends workplace and lifestyle uses.
The project follows Inspired by Somerset Development’s “Metroburb” model, which aims to create a self-contained metropolis experience in a suburban setting. Bell Works Fort Monmouth builds on the concept established at the original Bell Works development in nearby Holmdel, NJ, extending the branded campus approach to another former corporate site.
According to Stolly, Bell Works Fort Monmouth continues to show strong leasing momentum and prospects for long-term value creation. He noted that the new financing reflects the stability of the asset’s current cash flow while providing flexibility to support its next phase of growth, and acknowledged the collaboration among Inspired by Somerset, H.I.G. Capital and Hudson Bay Capital in completing the transaction.
