Inspired by Somerset Development has secured a $30 million debt placement to acquire an office and mixed-use property in Tinton Falls, N.J. The Greystone Capital Advisors team sourced the financing on behalf of the borrower.
One Commvault Way is a 277,000-square-foot asset serving as the corporate headquarters of cybersecurity firm Commvault. The new owner intends to reimagine the space with added co-working, restaurants, retail and recreation. The acquisition debt arranged by Greystone Capital Advisors is structured as a three-year, interest-only, bridge loan with future funding to cover tenant improvement and leasing costs to execute the sponsor's business plan.
“Building on the success of our vision for the Bell Works complexes in Holmdel and Chicagoland, we are excited to provide a best-in-class offering for tenants and visitors at this Tinton Falls location,” said Ralph Zucker, president at Inspired by Somerset Development. “Greystone Capital Advisors helped
