The Rockefeller Group Secures $70M Construction Loan for Flexible-Stay Project in New Jersey

FLORHAM PARK, N.J. — The Rockefeller Group has secured $70 million in financing on behalf of its joint venture partnership with Korman Communities for the construction of AVE Florham Park. Located within The Green at Florham Park in Florham Park, the flexible-stay community will feature 256 furnished and unfurnished accommodations that are ideal for corporate housing, relocations and long-term stays. The partnership broke ground on the 450,000-square-foot project earlier this year with completion slated for 2017. The property will feature 40,000 square feet of outdoor amenities, including a private courtyard with sitting areas and chess stations, and a community courtyard with a lap pool and sundeck, a ping pong table, bocce ball court, a kitchen with barbecue area, a movie screen, fire pits and an enclave with cabanas. Additionally, the property will feature 24,000 square feet of indoor amenities, including a movie theater, café, conference suites, a business center, a yoga studio and fitness center, a spa and 24-hour resident services.