Ares Provides $135M Construction Loan to Russo Development JV for cold storage industrial project in East Hanover, New Jersey

12/4/2024

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REBusinessOnline

• Subcategory: Capital Markets: Debt, Industrial: Distribution, Industrial: Flex, Industrial: Storage

• Tag: JV-Partnership | New Construction

• Additional Filters-Subcategory: Capital Markets: Debt-Construction Loan, Industrial: Cold Storage

• Company: Ares Management Corp (NYSE: ARES), Newmark Group (Nasdaq: NMRK)

Ares Commercial Real Estate has provided a $135 million construction loan for High Point on 10, a 584,000-square-foot industrial project that will be located in East Hanover, about 25 miles west of New York City. The development will have 380,000 square feet of build-to-suit cold storage space that is preleased to operator RealCold.