NorthMarq Capital’s New Jersey office arranges $91.5 million refinance for Medical Office Portfolio

The Subject Property is a medical office/surgical center containing 71,915 rentable square feet and is located at 103-105 South Bedford Road, Mount Kisco, New York. It consists of one 2- story structure and one 3-story structure which were both renovated in 2002-2003. 103 South Bedford is approximately 22,900 square feet and 105 South Bedford is approximately 45,500 square feet. Combined, there are a total of 29 units within the Subject. Parking on site consists of 261 parking spaces, 6 of which are handicapped, located in four surface lots and an under building parking area. A number of tenants are associated with Mount Kisco Medical Group, one of the largest physician groups in the Lower Hudson Valley. Established in 1946, Mount Kisco Medical Group has nearly 2,700 employees total and serves more than 500,000 patients

The Subject Property is a 25,251 SF medical-office building located in Carlstadt, NJ. The Subject features a red brick exterior façade with a covered entryway and ample on-site parking. The Subject includes a passenger elevator in the entryway/lobby and is 100% wet sprinklered throughout the common areas and tenant spaces. The suites are leased and occupied medical related tenants including Medical Associates of NJ, Surgicare of Carlstadt, Feabas and SMG.

The Subject Property consists of a level, rectangular-shaped parcel of land with a three-story medical office building containing a total of 15,000 square feet. The ground floor level is utilized for on-site parking and provides 23 parking spaces. The Subject includes a passenger elevator in the entryway/lobby and is 100% wet sprinklered throughout the common areas and tenant spaces.

The Subject was constructed by the Hajjar Portfolio in 2009. The Subject is currently fully leased to two entities: St. Joseph’s Pediatric Surgery and Sovereign Medical Group.

The Subject is five condominium units totaling 11,359 square feet of medical office space in a four-story, 55,000-square-foot building located at 15-01 Broadway, Fair Lawn, New Jersey. The building was originally constructed in 1955 as a religious facility and was rehabilitated to its current medical use in 1983.

The Subject units were purchased by the Borrower in 1999 and were fully renovated, converting the old space into brand new medical office units. The suites are fully leased and occupied medical- oriented tenants including Surgicare of Fair Lawn, Sovereign Laboratory Services, Orthopedic Associates and Sovereign Medical Group.

The condominium building features a three-story, glass atrium which includes a passenger elevator, providing access to all floors. There is paved, on-site parking for 129 vehicles. The Hajjar Medical Office Portfolio also includes the adjacent medical building, located at 14-01 Broadway.

The Subject Property is a medical office/surgical center containing 43,914 rentable square feet and is located at 85 Harristown Road, Glen Rock, New Jersey. Sovereign Medical Group occupies the entire second floor of the building, which is used to house its 200+ employees and administrative staff and serves as the group’s headquarters location. Prior to its acquisition in 2012, the building was occupied by Motorola. After acquiring the building, extensive capital improvements were done, creating separate tenant spaces and the build out of medical offices.

Other tenants within the building include a surgery center, who occupies a large portion of the main floor and Sovereign affiliated doctor offices.

The subject property is a medical office/surgical center containing 30,954 rentable square feet and is located at 631 Grand Street, Jersey City, Hudson County, New Jersey. The site is situated on the south side of Grand Street between State and Bishop Streets. The property is just 0.7 miles from Jersey City Medical Center (the only Trauma 1 medical facility in Hudson County).

The state-of-the-art three-story building was constructed in 2011 and features a brick exterior with green-tinted, thermal pane windows in aluminum frames. The building is fully sprinklered. The lobby and common area finishes are of an extremely high quality with wood panel wainscoting, granite and solid wood core doors. This high-end finish work is carried through to the tenant spaces, which are divided into reception/waiting areas, medical examination rooms, imaging rooms, radiation therapy rooms, monitoring stations, operating rooms, patient recovery rooms, changing/locker rooms, equipment sterilization rooms, storage rooms, administrative office space, common areas and bathrooms. The operating and radiation/imaging rooms have specialized climate control features to ensure a fully sterile environment. The Property has a backup generator on-site and significant electrical infrastructure to accommodate the highly specialized equipment of tenants.

The Subject Property is a two-story, 29,411-square-foot medical office building located in Oradell, NJ. The Subject was built in 1979 and subsequently purchased and renovated by the Sponsor in 2001. The suites are leased and occupied by a number of medical-oriented tenants including Surgicare of Oradell, Perlmutter, New Century Imaging, and Urology Specialty Care.

The Subject features a brick exterior façade with well-maintained landscaping and ample on-site parking. The Subject features a two-story, open entryway and has 100% wet sprinklers throughout the common areas and tenant spaces.

The Property is a three-story, 31,911 square foot medical office facility constructed on a one acre site on the campus of St. Joseph’s Wayne Hospital and was designed to house some of the hospital’s new and expanding cancer treatment facilities. The Subject Property provides 54 on-site parking spaces and easements for parking as well as ingress/egress over the surrounding St. Joseph’s Hospital property. The property is currently 57% leased to a number of tenants, including Wayne Cancer Center, Infusion Center, St. Joseph’s Medical Center, and Sovereign Medical. Final fit out is still being completed on the remaining space, which is expected to be occupied by the Hospital and its associated doctors.

The Subject Property has a steel frame structure and brick and metal panel exterior. Windows are 1” thick insulated glass in aluminum frames. The building provides a passenger elevator accessible in the main lobby. The site surrounding the building is attractively landscaped and parking is readily accessible. All public utilities are on site.

The Property is a two-story, 12,660 square foot medical office facility constructed on a .525± acre site on Easton Avenue in downtown New Brunswick. The Subject Property has on-site, paved parking and is situated directly across the street from St. Peter’s Hospital. The Subject is fully leased to Sovereign Oncology of New Brunswick and Sovereign Medical Group, both Hajjar- affiliated entities who will be taking occupancy of the fully renovated spaces as of July 1, 2015.

Built in 1986, the Subject has a steel frame structure and red brick exterior. The lobby features a polished granite floor, and commercial spaces have carpeted flooring. All suites are accessible via an elevator from the main lobby. Parking (30 spaces) is provided within the lot off Senior Street. Additional parking is available along Senior Street and Easton Avenue and within the garage across from the Subject on Easton Avenue.

The Subject Property is a free-standing, 16,250 square foot warehouse facility on 0.53 acres of land. The Property consists of two adjoining units, as detailed below:

• 5,800 sf showroom/warehouse
• 10,400 sf showroom/warehouse with two tailgates

There is a fenced side yard available for outside storage. Billboard space at the Property also provides additional income.

The Property has 19 foot clear ceiling heights with approximately 30% office/finished space which is air-conditioned. There are two rollup doors at the front of the building with interior loading docks. Parking for approximately 20 cars is provided on site in the paved lot. The building is fully sprinklered.

The Subject Property is a three-story medical office/surgical center containing 42,150 rentable square feet located near the intersection of Eisenhower Parkway an I-280 in Roseland, NJ. The modern, octagonal design of the building gives it a unique and distinctive profile. The building was recently acquired by the Hajjar Portfolio in March 2015 and offers significant upside through lease extensions, additional lease up and capital improvements. Currently at 69% occupancy, the Sponsor expects to be able to bring the building in line with the 95%+ occupancy levels currently realized across the rest of their stabilized portfolio in the Northern NJ market.

The ground floor of the Subject is occupied in its entirety by the Roseland Ambulatory Surgery Center. The two additional floors are multi-tenanted offering suite sizes from 550 square feet up to 3,422 square feet, with larger sizes possible through the combination of adjacent units.

The Subject Property is a 6,600 medical office building located in Hackensack, NJ. The Subject was originally constructed in 1974 but was fully renovated by the Sponsor in 2010 and converted to a cancer treatment center. The Subject is fully leased to a single tenant for use as a radiation therapy center.