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| Rendering of planned 333 Central Avenue Apartments, Downtown Westfield, NJ |
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| Michael KLein |
FLORHAM PARK, NJ ––
Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged $17.435 million
in financing for 333 Central Avenue,
a 70-unit, Class A multi-housing development in downtown Westfield, New Jersey.
HFF worked exclusively on
behalf of The Hampshire Companies (Hampshire) and The Claremont Companies
(Claremont) to secure the construction loan through Capital One Bank.
333 Central Avenue is
located within walking distance to downtown Westfield, which offers extensive
retail and dining amenities. In
addition, the property is less than one-tenth of a mile from a New Jersey
Transit train station along the Raritan Valley line, providing access into New
York City’s Penn Station.
Due for completion in
spring 2017, the four-story, 126,340-square-foot community will offer a variety
of one- and two-bedroom unit layouts ranging from 700 to 1,550 square feet with
select units featuring a den and private terrace.
All units will have
hardwood floors throughout, nine-foot ceilings, stainless steel appliances,
granite countertops and spacious walk-in closets. Community amenities will include secure and
covered parking, a luxurious lounge with wet bar for entertaining, state-of-the
art gym with yoga room, rooftop lounge and additional storage units located on
each floor.
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| Jon Mikula |
The HFF debt placement
team representing the borrower was led by senior managing director Jon Mikula and director Michael Klein.
“Westfield’s desirability
and limited multifamily supply coupled with the additional upside of the
project’s proximity to a New Jersey transit stop resulted in a tremendous
amount of interest from local, regional and national banks to finance the
project,” said Klein.
“Capital One was able to
provide a very aggressive rate and structure that best met both Hampshire and
Claremont’s needs,” Klein continued. “We
are very excited to have worked on their behalf as both firms continue to
increase their multifamily holdings.”
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
Facebook (www.facebook.com/hampshireco)
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