Rialto, Hines Refi N.J. Office Campus With $58M Loan
By Andrew Coen December 8, 2025 1:46 pm
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Columbia Pacific Advisors has sealed a $58 million loan to refinance a New Jersey office campus, Commercial Observer has learned.
Rialto Capital Management and Hines provided the five-year, floating-rate debt for Columbia’s 101 and 103 JFK Parkway property, a two-building, 320,000-square-foot office complex in Short Hills, N.J.
CBRE arranged the transaction with a team led by Brad Zampa and Mike Walker of the brokerage’s debt and structured finance team in San Francisco.
“This refinancing reflects renewed liquidity and growing confidence in the office sector as return-to-office mandates gain traction,” Zampa said in a statement. “Despite the complexity of the transaction, the sponsor’s reset basis, extensive experience in value-add assets and their significant capital commitment resulted in a successful execution, which will allow the sponsor to further stabilize the asset.”
Zampa added that the deal attracted multiple bids from a variety of lenders with “differing pricing and leverage levels.”
Located 11 miles west of Downtown Newark and 26 miles west of Midtown Manhattan, the office property was 95 percent leased at the time of the deal, according to CBRE. Amenities include a fitness center, a yoga room and shuttle service to the Summit New Jersey Transit station.
The 197,196-square-foot 101 JFK Parkway is anchored by Franklin Mutual Advisers, Citizens Bank, Citi Private Bank, Virtu Financial and global law firm Dentons. The 122,525-square-foot 103 JFK Parkway, which was fully vacant when Columbia took ownership in early 2024, inked a long-term headquarters lease in October with Selective Insurance to occupy the entire building.
“The successful $58 million refinancing for 101 and 103 JFK Parkway was an outstanding collaborative effort,” Chais Lowell, senior vice president for real estate at Columbia Pacific Advisors, said in a statement.
Rialto and Hines did not immediately return requests for comment.
Andrew Coen can be reached at acoen@commercialobserver.com.
