 |
Willow Pointe Apartments, 1701 Salem Road, Burlington, NJ |
FLORHAM PARK, NJ - HFF announced it has arranged $37.95
million financing for five garden-style multi-housing properties totaling 727
units in various New Jersey locations.
 |
| Jon Mikula |
HFF
worked exclusively on behalf of the borrower, The PRC Group, to secure the
loans in two separate transactions. The
first $22.2 million loan for three of the properties was placed with The
Provident Bank of Iselin, New Jersey.
The other $15.75 million loan for the remaining two properties was
placed with Columbia Bank.
The
portfolio is 100 percent leased.
Individual properties details are listed below:
- Grandville
Towers 19 Morford Place, Red Bank 91
Units
- Clifton
Arms 220-240 9th Street, Lakewood 64 Units
- Farmingdale
Gardens 1 West Main Street, Farmingdale 176 Units
- Sunset
Heights 1130 Sunset Road, Burlington 120 Units
- Willow
Pointe1701 Salem Road, Burlington 276 Units
 |
| Jim Cadranell |
The
HFF team representing the borrower was led by senior managing director Jon
Mikula and managing director Jim Cadranell.
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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