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| The Vanguard Apartments Hoboken, NJ |
FLORHAM PARK, NJ – HFF announced today that it has arranged
a $72 million refinancing for The Vanguard, a 196-unit, luxury
multi-housing property with 37,818 square feet of ground floor retail in
Hoboken, New Jersey.
Working on behalf of Ironstate Development, HFF placed the 10-year,
fixed-rate loan with a life company correspondent lender. Loan proceeds are refinancing an existing
loan on the property.
The
Vanguard is located at 1201-1333 Hudson Street in the Shipyard mixed-use
development along the Hudson River across from midtown Manhattan.
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| Thomas Didio |
The fully-leased property consists of two towers with
studio, one-, two- and three-bedroom units averaging 1,046 square feet
each. The property’s ground floor
retail space is anchored by Kings Supermarket.
In addition to Kings Supermarket, retail tenants include
Rite Aid, Starbucks and TD Bank. The
property also provides a shuttle service to/from the PATH station as well as
on-site ferry service to midtown and downtown Manhattan.
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| David Barry |
The
HFF team representing Ironstate Development was led by senior managing director
Thomas Didio.
Ironstate and its principals, Michael and David Barry,
have developed 10,000 residential and hotel units over the past several
decades, still owning and managing the majority of that portfolio.
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| Michael Barry |
The company is presently engaged in the
development of approximately $1 billion of large-scale residential and
hospitality projects.
For a complete
copy of the company’s news release, please contact:
Kristen M. Murphy
Associate Director
HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046
tel 713.852.3500 | cel 617.543.4873 | fax 713.527.8725 | www.hfflp.com
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