Natixis Lends $207,880,000 for Novo Nordisk North American Headquarters
Natixis Real Estate Capital LLC provided $207,880,000 of 5-year term fixed rate CMBS financing to Hana Asset Management Co., Ltd. for the acquisition of Novo Nordisk’s North American Headquarters located at 800 Scudder Mill Road, Princeton, NJ. The financing was arranged by Alexander Hernandez and John Alascio from the office of Cushman & Wakefield in New York.
The building is a 761,824-sq. ft. Class A office property situated on a 58-acre campus. Novo Nordisk currently leases 594,009 square feet with an option to expand into the remainder of the space. The Property is LEED Silver certified and features state-of-the-art technology, superior construction, the highest level of energy efficient systems, and best in class amenities. Building amenities include a fully renovated 267-seat cafeteria, executive dining area, grab and go café, a fitness center fully equipped with lockers and showers, 493 space covered parking (22% of campus parking), 4,000 square foot roof-top terrace with outdoor dining patios, and a full service concierge.
The Property is located in the Princeton submarket, which has been one of the strongest office submarkets in the state and dominated by companies in the pharmaceutical, life sciences and financial services industries. One of the main drivers in the market behind this growth is Princeton University which is located less than five miles west of the Property.