51 John F. Kennedy Pkwy. in Short Hills — Courtesy: HFF
By Joshua Burd
HFF has secured $124.5 million in financing for three properties in Short Hills that Mack-Cali Realty Corp. is acquiring as part of a high-profile deal announced earlier this month.
Working on behalf of Mack-Cali, HFF placed the 10-year, fixed-year loan through Citi and Goldman Sachs & Co., the firm said in a news release. Loan proceeds were used to acquire the properties — 51, 101 and 103 John F. Kennedy Parkway in Short Hills.
The financing comes after HFF brokered the $368 million, six-building deal that also included 1, 3 and 7 Giralda Farms in Madison. Announced March 16, the transaction saw RXR Realty sell a 91 percent leased portfolio that sits within one of the state’s top suburban submarkets.
HFF represented RXR in the sale. The HFF debt placement team representing the borrower in the financing transaction was led by Senior Managing Director Jon Mikula.
All of the properties are located in the Route 24 corridor, which is close to the affluent residential communities of Millburn, Summit, Livingston, Chatham and Florham Park. Tenants within the portfolio include KPMG, Wells Fargo, Merrill Lynch, UBS, Dun & Bradstreet, Investors Bank, Citibank, Franklin Mutual Advisors, Pfizer and Prudential.