Skylight, PCCP Refi Hudson Riverfront Apartments for $110M
JLL Capital Markets facilitated a $109.5-million refinancing for Riello Edgewater, a 272,191-square-foot, Class A high-rise multifamily community located on the Hudson River waterfront in Edgewater, NJ. The team represented the sponsors, Skylight Real Estate Partners and PCCP, in arranging the three-year, floating-rate loan through MF1.
Located at 99 Gorge Rd., Riello Edgewater serves the growing demographic of renters seeking larger and higher quality units, while still having access to downtown Manhattan and the five boroughs. The community offers ready connections to the George Washington Bridge and Lincoln Tunnel, as well as various public transit opportunities to the city.
Riello Edgewater is a 226-unit multifamily community featuring one-, two-, three- and four-bedroom floor plans that average 1,139 square feet, as well as luxurious multi-level penthouse suites, with select layouts incorporating dedicated home office space and wraparound balconies showcasing panoramic views of the Manhattan skyline and Hudson River. The property offers 341 parking spaces and has recently redesigned common areas.
Other News
Development Site Trades within Atlantic Avenue Mixed-Use Plan
Ariel Property Advisors closed the $21-million sale of a development site at 566 Grand Ave. and 836 Dean St. in Prospect Heights, Brooklyn. The corner development site comprises approximately 86,065 buildable square feet and traded for approximately $244 per buildable square foot. The transaction was arranged by Ariel partner Sean R. Kelly along with associate...
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Fourth Sale Closes in Anaheim Multifamily Portfolio
Marcus & Millichap arranged the sale of Knott-Orange Apartments, a 35-unit multifamily property located at 515 S. Knott Ave. in Anaheim. The property sold for $9.65 million, or $275,714 per unit. “This transaction marked the fourth closing from a larger Anaheim-area multifamily portfolio as the seller continues to reposition its holdings through a 1031 exchange...
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JLL Arranges $135M Financing for Luxury Multifamily in Yonkers
JLL Capital Markets arranged $135 million in construction financing and joint venture equity for the development of The Ibex at Ridge Hill, a 282-unit luxury multifamily community at the Ridge Hill mixed-use lifestyle center in Yonkers. Senior managing directors Evan Pariser and Aaron Niedermayer and director John Lowe arranged the senior construction loan with Bank...
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout