Mar
28

Somerset Properties Sells Office Portfolio in NJ

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The 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…

Somerset Properties Sells Office Portfolio in NJ

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