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Angelo, Gordon Lines Up $64M Loan on Hoboken’s Wonder Lofts

Angelo, Gordon & Co. has secured a $64-million loan from Bank OZK to finance the construction of Prism Capital Partners’ Wonder Lofts, an 89-unit luxury residential complex being developed at a onetime Wonder Bread factory in Hoboken, NJ. Prism and Angelo, Gordon recapitalized the project this past March.

“This financing from Bank OZK allows us to move forward with the modernization of a classic former industrial site that is part of what makes Hoboken so historically significant,” said Daniel Rudin, director at Angelo, Gordon. “We are now fully capitalized for the project, and we are excited to have Bank OZK as part of that team.”

Construction of the five-building complex’s main structure is scheduled to begin in the fourth quarter. “Wonder Lofts is going to be a great project delivered in a market with nothing really like it for sale,” said Eugene Diaz, co-founder of Prism.

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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