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.
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).
CRE courses for CE credits
Get CE course credits, centered around all things CRE. View our courses today!