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New York & Tri-State  + New Jersey  + Senior Housing  | 

Bergen County Seniors Project Secures Equity Capital

Cushman & Wakefield Senior Housing Capital Markets has arranged $26.5 million of institutional equity capital from a private equity fund for a 203-unit independent living, assisted living and memory care development in the affluent Bergen County bedroom community of Montvale, NJ.

A Cushman & Wakefield team of Richard Swartz, Jay Wagner and Jim Dooley acted as exclusive advisor to a joint venture between Pike Properties, Thrive Senior Living and Gallium Real Estate.

“We feel that this exciting project will be exceptionally well received in this market, and our team is thrilled for the new partnership created for this venture,” said Swartz.

The project is located 25 miles from Manhattan, and a half mile from the Garden State Parkway. Construction debt financing of $54.6 million has been lined up with a premier senior housing lender, and is expected to close in late August.

Connect Texas Multifamily will take place August 15, 2019 in Dallas. For more information, or to register, click here.

For comments, questions or concerns, please contact Paul Bubny

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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