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JLL Secures Construction Loan for Bergen County Rentals
JLL arranged financing for the development of Englewood Circle, a 220-unit, Class A multifamily property in the upscale Bergen County community of Englewood, NJ. Financial terms weren’t disclosed.
A JLL team of Jon Mikula, Michael Klein and Andrew Zilenziger worked on behalf of the developers, a joint venture between the Claremont Companies and Cypress Equity Investments, to secure the five-year construction loan through Principal Real Estate Investors.
Englewood Circle is being constructed on 2.54 acres at 40 Bennett Rd. in Englewood. Due for completion in 2020, the transit-oriented community offers convenient access to major thoroughfares, including Interstate 95, Route 4 and Palisades Interstate Parkway.
“We are excited to be a part of Claremont’s foray into Englewood, a town that has seen tremendous growth, specifically in the luxury multihousing space,” said Mikula. “Englewood Circle will provide the newest and most amenity-intensive project in Englewood.”
For comments, questions or concerns, please contact Paul Bubny
- ◦Financing
- ◦Development
