Bank of Montreal (BMO) is the senior lender behind SJP Properties, David Werner Real Estate Investments and Onyx Partners’ financing package for the joint venture’s purchase of Waterfront Corporate Center I in Hoboken, N.J., Commercial Observer has learned.
BMO provided a $153.8 million first mortgage in the deal, while 3650 REIT supplied $30 million of preferred equity, sealing the JV’s acquisition of the 14-story office and retail asset from real estate investment trust Veris Residential (formerly Mack-Cali Realty Corporation).
Meridian Capital Group arranged the financing, with a team led by Drew Anderman and Eddie Haber.
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