HFF Secures $75M Financing for Realogy’s HQ in Madison, NJ

The Hampshire Cos., owner of the newly redeveloped office building at 175 Park Ave. in Madison, N.J., has obtained financing to the tune of $75 million for the fully leased, 270,000-square-foot property.

The Hampshire Cos., owner of the newly redeveloped office building at 175 Park Ave. in Madison, N.J., has obtained financing to the tune of $75 million for the fully leased, 270,000-square-foot property. 

HFF orchestrated the deal on behalf of the owner and noted that there were more than a few lenders interested in providing financing for 175 Madison, which serves as the new headquarters of Realogy Corp. They had their reasons. “[It’s a] Class A, newly renovated, award-winning building with a long-term lease,” Jon Mikula, senior managing director with HFF, told Commercial Property Executive. He added that the fact that there was an “excellent sponsor” was a strong draw as well. 

Cantor Commercial Real Estate Lending L.P. provided the financing, which came in the form of a 10-year, fixed-rate loan. Hampshire plans to utilize the proceeds to retire the existing construction financing debt on the asset.