REBusinessOnline

HFF Secures $63.5M in Financing for Development of Multifamily Community in New Jersey

207-Van-Vorst-Jersey-City-NJ

The first phase of 207 Van Vorst in Jersey City will feature 255 apartment units in a mix of studio, one-, two- and three-bedroom layouts. (Rendering credit: Dean Marchetto of Marchetto Higgins Stieve.)

JERSEY CITY, N.J. — HFF has secured $63.5 million in financing for the development of the first phase of 207 Van Vorst, a proposed two-phase, 408-unit luxury multifamily community in Jersey City. HFF worked on behalf of 207 Van Vorst Street Realty Company, a joint venture between institutional investors advised by J.P Morgan Asset Management – Global Real Assets and Fields Development Group, to place the loan with Wells Fargo Bank. Slated for completion in 2017, the 255-unit first phase will feature a mix of studio, one-, two- and three-bedroom residential apartment 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. Thomas Didio of HFF represented the borrower in the financing.

Get more news delivered to your inbox. Subscribe to France Media's e-newsletters. Click here.



Related News

Conferences