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| North Independence at The Shipyard Apartments Hoboken, NJ |
FLORHAM PARK, NJ – HFF announced it has secured an $80
million refinancing for North Independence at The Shipyard, a 185-unit
luxury multi-housing community in Hoboken, New Jersey.
Working on behalf of Ironstate Development, HFF placed the 12-year,
fixed-rate loan with a life insurance company.
Loan proceeds were used to pay off an existing mortgage.
North
Independence at The Shipyard is located at One Independence Court along the
Hudson River in Hoboken, between the Lincoln Tunnel and Holland Tunnel
providing access to midtown Manhattan and all the major New Jersey
highways.
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| Thomas Didio |
The property is situated
within the Shipyard neighborhood, which consists of five multi-housing
communities that share amenities, retail shops, a one-acre park, ferry stop and
marina on the Hudson River.
North
Independence has one-, two- and three-bedroom units averaging 1,174 square feet
each. The 95 percent leased property
shares amenities including a fitness center, outdoor pools, residents lounge,
indoor and outdoor child play areas and garage parking.
The
HFF debt placement team representing the borrower was led by senior managing
director Thomas Didio and associate director Samuel Seiden.
“HFF was happy to assist Ironstate Development with this
refinancing. We are pleased we were
able to secure a favorable interest rate for such a quality borrower and
property,” stated Didio.
Ironstate Development is a Hoboken, New
Jersey-based development firm that is currently engaged in the development of
more than $1 billion of residential, hotel and mixed-use properties in New
Jersey and New York.
For a complete copy of the company’s news release, please
contact:
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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