FLORHAM PARK, NJ – HFF announced today that it has secured a $32 million construction loan for The Station at Bucks County (top left photo), a to-be-built 233-unit luxury multi-housing community in Warminster, Pennsylvania, a suburb of Philadelphia.
Working exclusively on behalf of the borrower, J.G. Petrucci Co. Inc., HFF placed the three-year construction loan with Webster Bank.
The Station at Bucks County will be located at 330 Jacksonville Road adjacent to the Warminster Train Station about 14 miles north of city center Philadelphia. Upon completion in 2012, the property will feature 19 buildings with one- and two-bedroom units averaging 932 square feet each. Community amenities will include a clubhouse, fitness center and pool.
The HFF team representing J.G Petrucci Co. Inc. was led by senior managing director Jon Mikula. (middle right photo)
Established in 1987, J.G. Petrucci Co. Inc. (JGPCO) is a privately-held, full-service owner and developer of industrial, office, medical, retail and other commercial properties throughout the northeastern United States. With offices in New Jersey and Pennsylvania (Bethlehem-Lehigh Valley), JGPCO has grown to become one of the region’s most productive and well respective development and design/build organizations.
Webster Bank, N.A., a wholly owned subsidiary of Webster Financial Corp. (WBS), is an $18 billion institution headquartered in Connecticut with 176 banking offices located between Boston and West Chester, New York. Webster has a commercial real estate loan origination office located in Radnor, Pennsylvania responsible for originating commercial real estate loans in Pennsylvania, New Jersey and Delaware.
Contacts:
Jon Mikula, HFF Senior Managing Director, (973) 549-2000, jmikula@hfflp.com
Kristen Murphy, HFF Associate Director, Marketing, (713) 852-3500, krmurphy@hfflp.com
No comments:
Post a Comment