Mar
28
Somerset Properties Sells Office Portfolio in NJ
ByThe 304,732-square-foot portfolio was 94 percent occupied at the time of sale. The office buildings are all located within minutes of major thoroughfares.
Somerset Properties has sold a four-building office portfolio located in Mount Laurel and Marlton, N.J. Mobius acquired the properties for a combined $31.4 million and received a 10-year fixed-rate acquisition loan from Wells Fargo Bank, in the amount of $24.3 million. The portfolio totals 304,732 square feet and is 94 percent occupied.
An HFF team represented Somerset in the transaction and arranged the funding on behalf of Mobius…
