Peapack-Gladstone, NJ $13,950,000 148 +/- Mixed-use Development A Note Participation

Knighthead provided a $13,950,000 first mortgage senior participation interest (A-Note)  in a $20.6mm first mortgage loan. The loan is secured by ~148 acre suburban office campus to be redeveloped into a multi-use commercial development located in Peapack Gladstone, NJ. The senior participation was underwritten to an ~25% LTV of Appraised Value.