Cushman & Wakefield announced Monday that it has successfully advised Eastman Companies on the recapitalization and refinancing of The Eisenhower, a Class A office campus in Livingston. The complex transaction includes $24.2 million in financing from Ladder Capital and approximately $14 million in new equity.
The deal represents a significant “capital reset” for the 385,000-square-foot property located at 290 West Mount Pleasant Avenue. By securing flexible debt alongside fresh capital, Eastman Companies is poised to finalize the lease-up of the campus and fund significant tenant improvements.
The Eisenhower has maintained strong leasing momentum despite broader market shifts, recently highlighted by CoreWeave’s long-term commitment and headquarters relocation to the site. Following the departure of a former major anchor tenant, the property is already back to over 60% occupancy.
“This recapitalization underscores lender confidence in the property’s fundamentals and sponsorship,” Chuck Kohaut, managing director at Cushman & Wakefield said. “Eastman Companies is now well-positioned to add significant value and attract best-in-class tenants.”
Developed by Eastman Companies in the mid-1980s, The Eisenhower remains a flagship asset in their regional portfolio. The campus is known for its “four-interconnected-pod” design and a comprehensive amenity suite that includes:
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Conference center: A state-of-the-art facility featuring a 200-seat auditorium.
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Wellness & dining: A full-service cafeteria, a fitness center with personal training, and an on-site game room.
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Sustainability: LEED Silver certification, Energy Star rating, and on-site solar installations providing ancillary income.
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Parking: Structured executive parking and electric vehicle charging stations.
The transaction was led by Cushman & Wakefield’s Capital Markets team, including David Bernhaut, John Alascio, Brad Domenico, Chuck Kohaut, Frank Stanislaski, Bill Baunach and Jack Subers.
“We are extremely pleased with the efforts of the Cushman team,” Marc Schofel, principal at Eastman Companies said. “This transaction provides the capital necessary to continue investing in base-building improvements and drive long-term value for our partners and tenants.”
