JLL arranges $15.35M financing for Princeton, New Jersey, office building

MORRISTOWN, N.J., July 29, 2026 – JLL Capital Markets announced today that it has arranged $15.35 million in financing for 500 College Road East, a four-story, 160,904-square-foot, Class A office building in Princeton, New Jersey.

JLL worked on behalf of the borrower entity led by Bergman Real Estate Group, to secure the four-year, interest-only, fixed-rate loan through a life insurance company.

Originally built in 1984 and renovated in 2022, Bergman has made significant upgrades to 500 College Road East through an approximately $4.0 million capital improvement program. Improvements included fully renovated common areas with updated finishes and LED lighting, a new full-service café and seating, upgraded fitness center with shower, an employee lounge with games a multimedia conference and training facility, enhanced outdoor meeting areas and extensive landscaping. A tenant bike share program was also introduced, leveraging the internal trail network within the larger Princeton Forrestal Center.

Since its acquisition in 2020, ownership has executed 22 new leases totaling approximately 113,000 square feet, demonstrating strong and sustained tenant demand. The recent capital improvements and enhanced building amenities have successfully attracted a high-quality tenant base.

500 College Road East is positioned on 15 acres within the Princeton Forrestal Center, a 2,200-acre business park that has over eight million square feet of mixed-uses, including academic, research, office, residential, hotels, conference centers, retail and managed open space amenities. The property is midway between Philadelphia and New York City, in one of New Jersey’s premier office addresses.

JLL's Capital Markets Debt Advisory team was led by Michael Klein, Gregory Nalbandian, Nazario Paragano and Kevin Badger.

“Bergman Real Estate Group has demonstrated exceptional execution since acquiring this asset in 2020," said Nalbandian. "The capital improvement program has successfully repositioned 500 College Road East as a competitive Class A offering, evidenced by the significant leasing momentum and the quality of the institutional and credit-oriented tenant base. The building's flexible floor plates and efficient design support a diverse range of tenant sizes and uses. This loan was particularly attractive as it offered open prepayment during the entire term without penalty should the sponsor elect to sell the asset to monetize their investment."

JLL’s Capital Markets group is a full-service global provider of capital solutions for real estate investors and occupiers. The group’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients, including investment sales and advisory, debt advisory, M&A and corporate finance, loan sales, equity & fund placement, net lease, derivative advisory and energy & infrastructure advisory. The group has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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Bergman Real Estate Group, was founded in 1988. Bergman is a privately owned, full-service real estate investment and management company, with over 38 years of operating history in New Jersey and other select markets. The Company’s fully integrated platform includes acquisition, ownership, asset and property management, leasing, and construction supervision. Bergman built its success on acquiring and successfully repositioning underperforming properties. The company currently owns and manages 18 office and retail properties encompassing over 2.25 million square feet of space.

JLL (NYSE:JLL) is a leading global commercial real estate services and investment management company with annual revenue of $26.1 billion, operations in over 80 countries and a global workforce of more than 113,000 as of March 31, 2026. For over 200 years, clients have trusted JLL, a Fortune 500^® company, to help them confidently buy, build, occupy, manage and invest across a variety of industries and property types, including office, industrial, hotel, multi-family, retail and data center properties. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAY. Powered by rich global datasets and leading technology capabilities, we provide coordinated, end-to-end delivery of real estate services for a broad range of global clients who represent a wide variety of industries. Through LaSalle Investment Management, we invest for clients on a global basis in both private assets and publicly traded real estate securities. For further information, visit jll.com.