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New York & Tri-State  + New Jersey  + Finance  |  June 16, 2023
Emily Fu
By: Emily Fu

S. Hekemian Group Lands Financing to Develop Montvale Valley Hospital Surgery Center 

The S. Hekemian Group has secured construction financing and mezzanine equity for District Building 4, a mixed-use building in Montvale, New Jersey. The financing amount wasn’t disclosed. 

Located at 400 Market St, the three-story building will comprise 25,000 square feet of ground-floor retail space and 58,372 square feet of Class A medical space. The building is expected to be completed in early 2024 and house tenants including Pottery Barn, Williams Sonoma, and a medical facility affiliated with Valley Hospital.  

ConnectOne Bank provided the two-year, floating-rate construction loan. A life insurance company provided the subordinate debt. District Building 4 is part of the larger District development, which features four buildings housing luxury apartments, boutique office space, and ground-floor retail.  

JLL facilitated the financing with a team led by Thomas R. Didio. 

Read More News Stories About: JLL
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Inside The Story

About Emily Fu

Emily Fu is Content Director of Connect Commercial Real Estate, where she covers the east coast markets, including New York, Boston & New England, and DC & Mid-Atlantic markets. She produces daily news stories as well as longer-form content, ranging from Q&As to thought-leadership pieces. She also writes feature stories for Connect Money. With previous stints at Reuters, Seeking Alpha, and Commercial Observer, Emily has covered the finance side of the commercial real estate industry, technology, media, telecom (TMT), and fashion. She attended the Columbia Graduate School of Journalism and currently resides in Manhattan.
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