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| Heritage Pointe of Teaneck, 600 Frank West. Burr Boulevard, Teaneck, Bergen County, NJ |
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| Ryan Maconachy |
DALLAS, TX – Aug. 17, 2015
– Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the
sale of and secured financing for Heritage
Pointe of Teaneck, a 142-unit independent living facility in Teaneck,
Bergen County, New Jersey.
HFF marketed the property
on behalf of Lowe Enterprises Investors, acting on behalf of an investment
client, to an undisclosed buyer.
In
addition, HFF secured a $33.23 million floating-rate loan on behalf of the
buyer through Investors Bank and TIAA Direct, a division of TIAA-CREF Trust
Company, FSB.
Completed in 2004,
Heritage Pointe of Teaneck is a four-story independent living property that has
45 one-, 94 two- and three three-bedroom units averaging 1,045 square feet
each.
The property is 97.2
percent occupied and includes amenities such as a restaurant-style dining room,
exercise room, wellness room, arts and crafts room, card room, resident lounge
with fireplace, business center, recreation room, hair and nail salon and
tennis courts.
Heritage Pointe of Teaneck
is located at 600 Frank W. Burr Boulevard and is approximately a half of a mile
from Holy Name Hospital and near Englewood Hospital and Hackensack Medical
Center.
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| Chad Lavender |
The HFF team representing
the seller was led by managing directors Ryan
Maconachy and Chad Lavender
along with senior managing director Jose
Cruz, managing director Kevin
O’Hearn and associate director Michael
Oliver.
HFF’s debt placement team
was led by managing director Steven
Klein.
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 | www.hfflp.com
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