Greystone closed a $30,000,000 debt placement for the acquisition of an office and mixed-use property in Tinton Falls, NJ. The financing was sourced by the Greystone Capital Advisors team led by president Drew Fletcher and VP Miryam Reinitz-Kops on behalf of Inspired by Somerset Development.
One Commvault Way is a 277,000-square-foot asset serving as the corporate headquarters of cybersecurity firm Commvault. The new owner intends to reimagine the space with added coworking, restaurants, retail and recreation. The acquisition debt arranged by Greystone is structured as a three-year, interest-only, bridge loan with future funding to cover tenant improvement and leasing costs.
“Building on the success of our vision for the Bell Works complexes in Holmdel and Chicagoland, we are excited to provide a best-in-class offering for tenants and visitors at this Tinton Falls location,” said Ralph Zucker, president, Inspired by Somerset Development. “Greystone Capital Advisors helped us expeditiously in securing the right debt solution while we execute on our vision for Bell Works Fort Monmouth.”
Rendering courtesy of Rotwein+Blake.
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