White and Williams Real Estate Finance Team Represents Brookfield Asset Management in $107 Million Financing
White and Williams successfully represented Brookfield Asset Management in the $107 million acquisition and construction financing for 2020 Logistics Center, a state-of-the-art distribution facility being constructed in Edison, New Jersey. Situated on a 50-acre lot, the industrial site will feature 669,600 square feet of divisible warehouse space, with an office to suit component totaling almost 52,000 square feet. Towering 40 foot ceilings will allow for a variety of uses on site and are accompanied by 123 loading docks, 161 trailer spots and 389 parking spaces. The proposed facility transforms a vacant and undeveloped lot acquired from Rutgers University and is due to be delivered by the end of the year. Brookfield originated both the mortgage and mezzanine debt.
The deal team overcame a number of challenges to ensure the project and proposed use conform with current zoning ordinances and environmental regulations, and closed the financing on an accelerated timeline.
The White and Williams team consisted of Kristen Andreoli, Steven Coury and Marissa Levy.