The $28m note-on-note loan from OakNorth will be used to support the acquisition of an 11-story, 466k sq. ft, Class A commercial office building in Secaucus, New Jersey. The well-renowned site named, 500 Plaza, consists of a five-story welcome atrium, full-service cafeteria, fitness center, executive conference room and conference center, several outdoor spaces and over 1,400 parking spaces. Situated in the popular Harmon Meadow district and a short drive to Route 3 and the New Jersey Turnpike, the site was first opened in 1985 and was extensively renovated in 2015.
About Oak Funding: Founded in 2022 by Jeremy Levart and Mark Meisner, the firm specializes in a wide array of real estate financing solutions, including both debt and equity strategies, for the U.S. commercial real estate sector. The firm’s lending platform prides itself on speed, flexibility, and confidence in deal execution.