Wednesday, January 20, 2016

HFF secures $63.5 million financing for development of luxury multi-housing community in Jersey City, NJ

                           Rendering by Dean Marchetto of Marchetto Higgins Stieve-

Rendering of planned 207 Van Vorst Apartments, Paulus Hook Neighborhood,
Downtown waterfront district, Jersey City, NJ
Thomas Didio
FLORHAM PARK, NJ –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has secured $63.5 million in financing for the development of 207 Van Vorst, a proposed 255-unit, 15-story luxury multi-housing community in Jersey City, New Jersey.

HFF worked exclusively on behalf of 207 Van Vorst Street Realty Company LLC, a joint venture between institutional investors advised by J.P. Morgan Asset Management – Global Real Assets (J.P. Morgan) and Fields Development Group (Fields), to place the construction loan with Wells Fargo Bank.

The property is being developed on a 0.87-acre site situated on Van Vorst Street in the historic Paulus Hook section of Jersey City’s downtown waterfront district. 

The property will offer views of Manhattan, the Statue of Liberty and nearby marinas, and will be the first of a two-phase project that, once complete, will encompass two adjacent 15-story residential buildings totaling 408 units.

 Due for completion in 2017, Phase I of the project will have a mix of studio, one-, two- and three-bedroom units and two ground-floor retail spaces totaling 7,237 square feet.  Community amenities will include a rooftop swimming pool, fitness center, 24-hour concierge, landscaped courtyard, club room, children’s playroom and a 254-space AutoMotion© parking system.

The HFF debt placement team representing the borrower was led by senior managing director Thomas Didio.

“This project is in the heart of the Paulus Hook area of Jersey City and will be well received by the market once construction is completed,” stated Didio.  “This is another trophy property developed by the J.P. Morgan and Fields team.”

  For a complete copy of the company’s news release, please contact:

Olivia Hennessey
Public Relations Coordinator
HFF | 9 Greenway Plaza Suite 700 | Houston, Texas 77046
tel 713.852.3403 | fax 713.527.8725 |

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