JLL Arranges $49.5M Loan for Refinancing of Central New Jersey Apartments

by Taylor Williams

CLARK, N.J. —  JLL has arranged a $49.5 million loan for the refinancing of Walnut Hill, a 177-unit apartment complex in Clark, about 23 miles southwest of New York City. The newly built property features one-, two- and three-bedroom units and amenities such as a fitness center, pool, clubhouse with lounges and a game room. About 15 percent (28 units) of the residences are reserved as affordable housing. Evan Pariser, Matthew Pizzolato and Jackie Ferrer of JLL arranged the 10-year, fixed-rate loan through Nationwide. The borrower was an affiliate of locally based developer Garden Communities.

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