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New York & Tri-State  + New Jersey  + Finance  | 
JLL arranged a refinance of The Current on River apartments in Hackensack, NJ

Hackensack Multifamily Scores $78M Refi Through NY Life 

JLL Capital Markets closed the $78-million refinancing of The Current on River, a 254-unit, newly constructed multifamily community at 18 E. Camden St. in Hackensack, NJ. 

The team of senior managing director Thomas Didio, senior director Thomas E. Didio, Jr. and associate Gerard Quinn represented the borrower, Brickyard Urban Renewal, LLC, an affiliate of Hekemian & Co., Inc., to secure the 10-year, fixed-rate loan through New York Life Real Estate Investors. 

“The Current on River is a transformative project featuring best-in-class amenities and unit finishes,” said Didio. “The life company market remains aggressive for core, best-in-class, new development multihousing product. Thank you to Brickyard Urban Renewal, LLC and the Hekemian & Co. team for entrusting JLL to drive the market on this financing.” 

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Inside The Story

JLL's Didio Sr.

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-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 15-20 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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