BMO Provides $154M Senior Loan on SJP, David Werner’s & Onyx Partners’ Hoboken Office Buy

Bank of Montreal (BMO) is the senior lender behind SJP Properties, David Werner Real Estate Investments and Onyx Partners’ financing package for the joint venture’s purchase of Waterfront Corporate Center I in Hoboken, N.J., Commercial Observer has learned.

BMO provided a $153.8 million first mortgage in the deal, while 3650 REIT supplied $30 million of preferred equity, sealing the JV’s acquisition of the 14-story office and retail asset from real estate investment trust Veris Residential (formerly Mack-Cali Realty Corporation).

Meridian Capital Group arranged the financing, with a team led by Drew Anderman and Eddie Haber.