Sunday, April 17, 2016

HFF arranges $170 million financing for Jersey City, NJ apartments

Thomas Didio
FLORHAM PARK, NJ –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged $170 million in financing for the newly-completed 70 Columbus, a 545-unit, Class A apartment tower in Jersey City, New Jersey.

HFF worked exclusively on behalf of Ironstate Development and Panepinto Properties to secure the 10-year, fixed-rate loan through Northwestern Mutual Real Estate.  Loan proceeds were used to replace existing construction financing.

Designed by Gwathmey, Siegel, Kaufman and Associates Architects (GSKA), 70 Columbus has studio, one- and two-bedroom luxury rental residences featuring panoramic views of the New York skyline, oversized windows, wood floors, stainless appliances and quartz countertops.

 Common area amenities include a lobby with fireplace lounge and social spaces designed by Noé Duchaufour Lawrance; bike room; business center; 60,000-square-foot roof deck with swimming pool, sport court, table tennis, grilling stations and dog run; and a 30,000-square-foot, state-of-the-art fitness center.

Noé Duchaufour Lawrance
 The 50-story tower is located at 70 Christopher Columbus Drive at the intersection of Warren Street within walking distance to the Hudson River waterfront and the Grove Street and Exchange Place PATH train stations.

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

“Northwestern Mutual addressed the borrowers desire to lock the interest rate early in the process and did a great job committing and closing the loan,” said Didio.

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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