Eastern Union Arranges $78.6M Loan for Refinancing of Northern New Jersey Multifamily Portfolio
NEW YORK CITY — Eastern Union has arranged a $78.6 million loan for the refinancing of a portfolio of 12 multifamily properties totaling 1,017 units that are predominantly located throughout Northern New Jersey. The portfolio also includes one property in The Bronx. Alex Jaffa of Eastern Union arranged the loan, which carries a fixed interest rate of 4.25 percent and a 10-year term, through Kearny Bank. The undisclosed borrower was a New Jersey-based investment firm that operates the properties through a variety of affiliated limited liability companies.