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Luxury Apartments Trade in Hoboken
JLL Capital Markets closed the sale and secured the $27-million financing for Edge Lofts, a two-building, luxury multifamily property located at 1405 Clinton and 1405 Adams St. in Hoboken, NJ. JLL represented the seller, Bijou Properties, LLC, and procured the undisclosed buyer.
The sale price wasn’t disclosed. Additionally, JLL worked on behalf of an institutional borrower to secure the 10-year, fixed-rate loan through a life insurance company.
The JLL Capital Markets Investment Sales and Advisory team representing the seller was led by senior managing directors Jose Cruz, Steve Simonelli and Michael Oliver, director Elizabeth DeVesty and associate Austin Pierce. Senior managing directors Jim Cadranell and Gregory Nalbandian, senior analyst Salvatore Buzzerio and analyst John Cumming led the JLL Capital Markets Debt Advisory team on behalf of the borrower.
“There was no shortage of interest to finance these core multi-housing assets,” said Nabaldan.
- ◦Sale/Acquisition

