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| Rendering of planned 220-unit Englewood Circle Apartments, Englewood, NJ |
MORRISTOWN, NJ – JLL announces that it has arranged financing for the development of Englewood Circle, a 220-unit, Class A multifamily property in Englewood, New Jersey.
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| Jon Mikula |
JLL worked on behalf of the developers, a joint venture between The Claremont Companies and Cypress Equity Investments, to secure the five-year construction loan through Principal Real Estate Investors.
Englewood Circle is being constructed on 2.54 acres at 40 Bennett Road directly across from MacKay Park. Due for completion in 2020, the transit-oriented community offers convenient access to major thoroughfares, including Interstate 95, Route 4 and Palisades Interstate Parkway.
The JLL Capital Markets team representing the developers was led by Senior Managing Director Jon Mikula, Managing Director Michael Klein and Analyst Andrew Zilenziger.
“We are excited to be a part of Claremont’s foray into Englewood, a town that has seen tremendous growth, specifically in the luxury multi-housing space,” Mikula stated. “Englewood Circle will provide the newest and most amenity intensive project in Englewood.”
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| Michael Klein |
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers.
The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment advisory, debt placement, equity placement or a recapitalization.
The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.
About Claremont Companies:
The history of the Claremont Companies, and its affiliate, Claremont Construction Group, Inc. is one of generational growth and progress.
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| Andrew Zilenziger |
In 1991, the current principals of Claremont strategically transitioned the company into a full-service development and general construction company.
Since then, the company has completed thousands of residential units and millions of square feet of commercial/retail projects as both a principal developer and third-party general contractor.
Now, in its third generation, Claremont is experiencing considerable growth with a real estate development pipeline approaching $500 million and third-party general construction projects valued in excess of $350 million.
Jon Mikula, JLL Senior Managing Director
Phone: +1 973 549 2000
Olivia Hennessey, JLL Public Relations Specialist
Phone: +1 713 852 3403
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