OakNorth Bank, 141 Capital Group and H Equities Close $33M Co-Lend for New Jersey Suburban Office Enhancements

OakNorth Bank, 141 Capital Group and H Equities have jointly provided $33 million in commercial real estate financing for a suburban office property in New Jersey, the lenders announced May 18, 2026. The transaction was brokered by United Commercial Group.

The co-lend will be used to refinance existing debt and fund a capital improvement and tenant enhancement program at the property, including tenant improvements, leasing costs and broader building upgrades. The lenders said the enhancements are designed to support long-term occupancy and asset quality at the multi-tenant office asset.

Deal Structure and Lender Roles

The three lenders contributed to the $33 million facility, with OakNorth, 141 Capital Group and H Equities each serving as co-lenders. The individual check sizes contributed by each lender were not disclosed. The transaction represents a co-lending arrangement in which the three institutions share exposure on a single office real estate asset in the New Jersey suburbs.

Adam Ehrenreich, Associate Director of Debt Finance at OakNorth, said the bank sees selective opportunity in the office sector despite broader market headwinds. "Despite ongoing challenges in parts of the U.S. office market, we continue to see opportunities to support well-located assets with experienced sponsorship and clear business plans focused on improving occupancy and enhancing tenant experience," Ehrenreich said. "This transaction reflects our disciplined approach to lending and our continued appetite for high-quality real estate opportunities in the U.S."

A spokesperson for 141 Capital Group said the firm views the deal as supporting a "thoughtful capital improvement strategy that will enhance the property and position it well for long-term performance."

Elliot Horowitz, Founder and CEO of H Equities, said the financing "supports a well-defined enhancement strategy for the property and reflects our continued focus on backing experienced sponsors and quality real estate assets with strong long-term potential."

Property Profile and Tenant Base

The office asset is occupied by a mix of corporate, professional services, government and institutional tenants, which the lenders described as providing a broad and stable tenancy base. Planned building enhancements are expected to strengthen the tenant profile and support future leasing activity, while helping the property remain competitive within its submarket, according to the announcement.

The lenders characterized the transaction as reflecting continued demand for suburban office assets that benefit from strong connectivity, established tenancy and active asset management strategies. The specific property name, address, square footage and current occupancy rate were not disclosed.

About the Lenders

OakNorth, launched in September 2015 and described as a digital bank for entrepreneurs, has provided more than $20 billion in lending to businesses across the United Kingdom and United States. The bank is authorized by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.

141 Capital Group and H Equities served as co-lenders alongside OakNorth. United Commercial Group brokered the transaction.

Sources

• OakNorth Press Release — May 18, 2026