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| Rendering by Dean Marchetto of Marchetto Higgins Stieve-http://dmarchitect.com). Rendering of planned 207 Van Vorst Apartments, Paulus Hook Neighborhood, Downtown waterfront district, Jersey City, NJ |
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| Thomas Didio |
FLORHAM PARK, NJ ––
Holliday Fenoglio Fowler, L.P. (HFF) announced it has secured $63.5 million in
financing for the development of 207 Van
Vorst, a proposed 255-unit, 15-story luxury multi-housing community in
Jersey City, New Jersey.
HFF worked exclusively on
behalf of 207 Van Vorst Street Realty Company LLC, a joint venture between
institutional investors advised by J.P. Morgan Asset Management – Global Real
Assets (J.P. Morgan) and Fields Development Group (Fields), to place the
construction loan with Wells Fargo Bank.
The property is being
developed on a 0.87-acre site situated on Van Vorst Street in the historic
Paulus Hook section of Jersey City’s downtown waterfront district.
The property will offer
views of Manhattan, the Statue of Liberty and nearby marinas, and will be the
first of a two-phase project that, once complete, will encompass two adjacent
15-story residential buildings totaling 408 units.
Due for completion in 2017, Phase I of the
project will have a mix of studio, one-, two- and three-bedroom units and two
ground-floor retail spaces totaling 7,237 square feet. Community amenities will include a rooftop
swimming pool, fitness center, 24-hour concierge, landscaped courtyard, club
room, children’s playroom and a 254-space AutoMotion© parking system.
The HFF debt placement
team representing the borrower was led by senior managing director Thomas Didio.
“This project is in the
heart of the Paulus Hook area of Jersey City and will be well received by the
market once construction is completed,” stated Didio. “This is another trophy property developed by
the J.P. Morgan and Fields team.”
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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