Clark Commercial Center, a joint venture between The Denholtz Group and MB1 Capital Partners, has secured $15.4 million in acquisition financing for a 13-property portfolio in Clark, NJ. An additional $3.15 million in construction financing has also been reserved for capital and tenant improvements to the properties. The 13 properties are located in Clark, New Jersey. The 283,000 sq ft portfolio consists primarily of 8 industrial flex space, two retail properties, two single-family residences and a vacant lot. Four of the properties are currently leased to L’Oreal Products. The financing was provided by Washington Trust Commercial Real Estate Group.
“Our clients have assembled a unique portfolio with a diverse tenant base in the well located town of Clark,” said Julia Anne M. Slom, Senior Vice President & Team Leader of Washington Trust’s Commercial Real Estate Group. “We are pleased to finance this first transaction with them and hope to expand our relationship within their footprint.”
