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Luxury Apartments in East Orange Score $53M Refi
Brad Domenico of Progress Capital secured $53,000,000 in refinancing for Blackstone 360, owner/developer of LOTUS 315, an eight-story, Class-A luxury mixed-use building at 315 S. Harrison St. in East Orange, NJ. Arbor Commercial Mortgage provided three years’ interest only financing on a non-recourse basis.
The property was built in 2019 by Newark-based real estate development firm Blackstone 360 (B360), which owns and operates the gated complex. LOTUS 315 includes 180 residential units coupled with 33,151 square floor of ground-floor commercial space.
The property is situated along the busy corridor of South Harrison Street at the cross-section of East Orange and South Orange, for easy access to Seton Hall University and the East Orange VA Hospital. Major highways including I-280 and Garden State Parkway are also within close proximity. The complex also provides shuttle service to Newark Penn Station, providing a convenient connection to NJ Transit service into New York.
- ◦Financing
