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JLL Arranges $44M Loan for Bergen County Luxury Apartments
JLL Capital Markets recently secured a $44-million financing for The Delford, a 160-unit luxury apartment community in Rochelle Park, Bergen County, NJ. A JLL Capital markets team led by senior managing directors Michael Klein and Jon Mikula and VP Ryan Carroll represented the borrower, Tulfra Realty Company, in securing the five-year, fixed-rate loan through Nuveen Real Estate.
Situated at 120 W. Passaic St. in Rochelle Park, 16 miles west of New York City, The Delford is a newly developed Class A luxury apartment community, offering one-, two- and three-bedroom options. Residents of the six-story building have access to an outdoor swimming pool, a coworking lounge, bicycle storage, a fitness center and outdoor grilling and dining areas. The community comprises 136 market-rate units and 24 affordable units.
“This transaction demonstrates the depth and strength of the capital markets for new multifamily projects in in-fill markets,” said Mikula.
- ◦Financing
