JLL Arranges $117.8M Refinancing of 360-Unit Everly Roseland Apartment Community in New Jersey
ROSELAND, N.J. — JLL has arranged $117.8 million loan for the refinancing for Everly Roseland, a 360-unit apartment community located in Roseland, a western suburb of New York City. An international bank provided a $96.3 million senior loan while J.P. Morgan Asset Management provided a $21.5 million mezzanine loan to refinance the existing loan and complete unit renovations. The property offers a mix of one-, two- and three-bedroom floor plans with amenities including a newly constructed clubhouse, fitness center, pool and tennis court. Michael Klein and Matthew Pizzolato of JLL arranged the loan on behalf of the borrower, Novel Property Ventures.