American Real Estate Partners (AREP) And Independencia Sell 1100-1200 American Boulevard In Premier New Jersey Office Park For $95M

American Real Estate Partners | April 29, 2020

American Real Estate Partners (AREP) And Independencia Sell 1100-1200 American Boulevard In Premier New Jersey Office Park For $95M
American Real Estate Partners (AREP) and Independencia Asset Management announced today the sale of 1100-1200 American Boulevard in Hopewell Township, NJ to an undisclosed buyer for $95M.  Originally built in 2000 as part of the Merrill Lynch corporate campus, the property was constructed to the highest quality standards and consists of three Class-A office buildings totaling 380,417 SF.  AREP acquired the property in 2013 as part of its portfolio strategy to moderate risk within its value-add strategy.  Under the terms of the agreement, AREP will continue to lease and manage the property.  The asset is currently 100% leased to Merrill Lynch which was acquired by Bank of America in 2008.

Spotlight

This paper will cover several important issues that should be considered throughout the loan origination and documentation process, including issues associated with the preparation and usage of commitment letters, issues relating to the selection and preparation of loan documents, specific provisions with which lenders should be particularly familiar, and common problematic transactions and issues of which lenders should be aware.

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REAL ESTATE TECHNOLOGY

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Spotlight

This paper will cover several important issues that should be considered throughout the loan origination and documentation process, including issues associated with the preparation and usage of commitment letters, issues relating to the selection and preparation of loan documents, specific provisions with which lenders should be particularly familiar, and common problematic transactions and issues of which lenders should be aware.