REBusinessOnline

MRC Provides $67.5M Acquisition Loan for Multifamily Project in New Jersey

A rendering of the planned multifamily community at 700 Frank E. Rodgers Boulevard

HARRISON, N.J. — Madison Realty Capital has provided $67.5 million in acquisition and construction financing for a 205-unit multifamily development project and an adjacent development site in Harrison. The loan allows the borrower, a partnership between Accordia Realty Ventures and Eastone Equities, to acquire both sites and finish construction of the 205-unit first phase of the project, which is currently topped off and approximately 60 percent complete. The development site has been approved for 435 multifamily units. Located at 700 Frank E. Rodgers Blvd., the first phase of the project is slated for completion in Spring 2019. The development team on the project includes Hollister as general contractor, NK Architects as design architect, Studio 1200 as interior designer, and The Marketing Directors as leasing and marketing agent.

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



Related News

Updated daily:
How Will COVID-19 Impact the Commercial Real Estate Industry?
Click here.

COVID-19 Webinars: Learn more about the CRE industry's response to the coronavirus. Sign up.

Watch On Demand:

Conferences
There are no upcoming events at this time.

Read the Digital Editions

Heartland Recent Issue

Northeast Recent Issue

Southeast Recent Issue

Texas Recent Issue

Western Recent Issue

Shopping Center Business

California Centers

Ancillary Retail

Student Housing Business

Seniors Housing Business

Featured Properties