New York & Tri-State CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
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.”
- ◦Financing

