PRINCETON, NJ—Cushman & Wakefield has served as exclusive advisor to Jeffrey Siegel and an affiliate of ML7 in arranging an $8.2 million fixed-rate loan for 5-13 Witherspoon Street in Princeton, N.J. Cantor Commercial Real Estate provided the 10-year financing.
Gideon Gil, Alexander Hernandez and Sridhar Vankayala of Cushman & Wakefield’s equity, debt and structured finance group served as advisor to Jeffrey Siegel and ML7.
Comprised of 17,000 sq. ft., 5-13 Witherspoon Street is a mixed-use property in close proximity to Princeton University. Purchased in 2010, the ownership recently completed a renovation project, which included updates to the retail, office and apartment spaces.
“The sponsor was seeking a capital provider that would understand this premier location within the Princeton, New Jersey marketplace,” said Gil, managing director. “Jeffrey Siegel and the ML7 team completed a massive renovation of this trophy property and created the next generation of bullet-proof retail at the gates of one of the most prestigious universities in the world.”