Sunday, March 30, 2014

HFF arranges $35 million refinancing for multi-housing community in Hoboken, NJ



The Metropolitan of Hoboken apartments, 1300 Clinton and 1313 Grand Streets,
 Uptown Hoboken, NJ
Jim Cadranell

FLORHAM PARK, NJ – HFF announced it has arranged a $35 million refinancing for The Metropolitan of Hoboken, a 128-unit apartment community in Hoboken, New Jersey.

HFF worked exclusively on behalf of the borrower, AEW Capital Management, L.P., to secure the three-year, fixed-rate loan through Capital One.  AEW owns the property on behalf of one of its institutional clients.

The Metropolitan of Hoboken is located at 1300 Clinton and 1313 Grand Streets in uptown Hoboken. 

Completed in 2000, the apartments are 96 percent leased and consist of one-, two- and three-bedroom layouts. 

The two-building community includes 2,000 square feet of ground floor retail and recently renovated amenities such as a fitness center, two resident lounges, parking garage, landscaped courtyard with picnic area, as well as free shuttle service to the PATH Hoboken train station.

Jon Mikula
The HFF team representing the borrower was led by managing director Jim Cadranell along with senior managing director Jon Mikula and associate director Samuel Seiden.

“Capital One provided very competitive pricing and maximum flexibility for AEW on this transaction.  It was a pleasure to work with both of them on this financing,” said Cadranell.

Founded in 1981, AEW Capital Management, L.P. (AEW) provides real estate investment management services to investors worldwide.

One of the world’s leading real estate investment advisors, AEW and its affiliates manage approximately $38  billion of capital invested in more than $51 billion of property and securities in North America, Europe and Asia (as of December 31, 2013).

Grounded in research and experienced in the complexities of the real estate and capital markets, AEW actively manages portfolios in both the public and private property markets and across the risk/return spectrum.

AEW and its affiliates have offices in Boston, Los Angeles, London, Paris, Singapore, and Hong Kong, as well as additional offices in eight European cities. For more information please visit www.aew.com.


Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com

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