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JLL Funds $30M Freddie Mac Loan for Refinancing of Multifamily Community in Bergenfield, New Jersey

Ivy-lane-morristown-nj

The property is located at 8 Howard Drive.

BERGENFIELD, N.J.JLL has funded a $30 million Fannie Mae loan for the refinancing of Ivy Lane, a 237-unit multifamily community in Bergenfield, a northwestern suburb of New York City. JLL worked on behalf of the borrower, Tower Management Service LP, to provide the 10-year, fixed-rate Freddie Mac loan. The property features 17 two-story buildings that house a mix of 142 one-bedroom, 86 two-bedroom and nine three-bedroom units with an average unit size of 582 square feet. Thomas Didio and Gerard Quinn of JLL arranged the loan.

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