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New York & Tri-State  + New Jersey  + Finance  | 
Cobalt Lofts apartments Harrison NJ

CushWake Arranges $72M Financing on Harrison Apartments

Cushman & Wakefield advised Advance Realty Investors in arranging $72,000,000 of permanent financing for Cobalt Lofts, located at 1200 S 5th St. In Harrison, NJ. The 10-year, fixed-rate loan was provided by AIG. 
 
The refinancing comes just after the developer’s financing and groundbreaking of Phase III, a 399-unit apartment building adjacent to Cobalt Lofts, of the multi-phased development within the Riverbend District of Harrison.  
 
A Cushman & Wakefield Equity, Debt & Structured Finance team led by John Alascio, TJ Sullivan, Chuck Kohaut and Zachary Smolev represented the borrower.  
 
“Cobalt Lofts is one of the premier assets in the Riverbend District and is well-positioned to be a focal point of the next generation of Harrison,” said Alascio. “Advance has done an incredible job executing its vision to redefine the landscape of Harrison and Cushman & Wakefield is proud to have been involved with this financing.”

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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).

  • ◦Financing
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