CBRE Secured $58 Million Refinance for Premier Office Campus in Short Hills, NJ

CBRE arranged $58 million in refinancing for 101 and 103 JFK Parkway, a two-building, 320,000-square-foot Class A office campus located in Short Hills, New Jersey.

Brad Zampa and Mike Walker of CBRE’s Debt & Structured Finance team in San Francisco arranged the financing on behalf of Columbia Pacific Advisors. The five-year, floating-rate loan was provided by an East Coast-based institutional real estate lender.

“This refinancing reflects renewed liquidity and growing confidence in the office sector as return-to-office mandates gain traction. 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. CBRE ran a competitive financing process that attracted multiple bids from a cross section of lenders at differing pricing and leverage levels,” said Zampa, executive vice president at CBRE.

The property is 95% leased to investment-grade tenants in professional and financial services. Amenities include a fitness center with locker rooms and showers, a yoga and meditation room, full-service cafeteria and private shuttle service to NJ Transit’s Summit Station. Strategically located across from The Mall at Short Hills, the property offers immediate access to major highways and NJ Transit rail service.

The property is located in a highly affluent & educated neighborhood of Short Hills, NJ, surrounded by major corporations, new Class A apartments, retail and destination shopping and hotel. Average household income exceeds $250,000, and median home values are above $1.6 million, underscoring the strength and stability of the local market.

“The successful $58 million refinancing for 101 and 103 JFK Parkway was an outstanding collaborative effort. Our best-in-class team including Brad Zampa; our investment partner, Jeff Rakow; our property manager, Lyndsey Linder; legal counsel, Adam Coady; and the exceptional team behind the scenes, supported the flawless execution of a complex transaction,” said Chais Lowell, senior vice president, real estate at Columbia Pacific Advisors.

The CBRE Lending Momentum Index rose by 0.55 points year-over-year in Q3 2025 to 1.03, comparable to 2018 levels, according to CBRE Research. Higher loan origination volumes and larger deal sizes fueled the rebound in lending.