Inspired by Somerset Development, the Holmdel-based development company, will refinance its Bell Works Fort Monmouth project with a $60 million bridge loan, the company announced.
Bell Works Fort Monmouth, formerly the headquarters of Commvault, is being developed by Inspired into a mixed-use property totaling 276,900 square feet, blending offices, retail, dining, wellness, and coworking with community spaces.
The Tinton Falls campus, bought by Inspired in 2025, is about 88% occupied, Inspired reported.
Walker & Dunlop Capital Markets Institutional Advisory arranged the financing for the joint venture of Inspired and HIG Capital.
“The refinancing of Bell Works Fort Monmouth is a powerful validation of our Metroburb model and the Bell Works brand,” Ralph Zucker, president and CEO of Inspired, said in the announcement. “By reimagining an underutilized suburban campus as a vibrant mixed-use destination, we’ve created lasting value for investors, tenants, and the community.”
Added Dustin Stolly, senior managing director of Capital Markets Institutional Walker & Dunlop, in a statement: “Bell Works Fort Monmouth is a highly differentiated mixed-use campus that continues to demonstrate strong leasing momentum and long-term value creation.”
Inspired by Somerset Development focuses on large-scale, transit-oriented, and brownfield redevelopment projects.
The Fort Monmouth project builds on the success of Bell Works Holmdel and Bell Works Chicagoland, according to Inspired.
