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Aegon Provides $35M Refi for Retail and Industrial Portfolio – Commercial Observer

Aegon Asset Management has provided a $35 million loan to Jos. The portfolio comprises six assets, including 10999 Air Park Road in Ashland, Va. and 52 Hickory Drive in Auburn, Pa.—both of which are 100 percent leased to FedEx Ground; 2629 North Park Drive in Holland, Mich.—fully leased to Walmart; 4250 East Shelby Drive in Memphis, Tenn.—100 percent leased to Fiat Chrysler; 1560 West Koger Center Boulevard in Richmond, Va.—fully occupied by Best Buy. L. Muscarelle is based in Maywood, N.J. Thefirm—led by Joseph Muscarelle—develops office, industrial, retail, research and development and hotel properties in New Jersey, Pennsylvania, Florida, and Tennessee. “It was a pleasure to work with Mr. Muscarelle, a first class owner and operator,” Horowitz told CO. “Aegon was able to provide a long term loan that will be well supported by Mr. Muscarelle’s legacy assets.”.

First found on: commercialobserver.com