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Chatham, NJ MF Lands $103M in Financing
JLL Capital Markets has arranged a $103 million refinancing for The Ivy, a newly completed luxury multi-housing community in Chatham, Morris County, New Jersey. The borrower, BNE Real Estate Group, secured the 10-year, fixed-rate loan through The Northwestern Mutual Life Insurance Company.
Completed in 2023, The Ivy features 245 units with one- to three-bedroom layouts, averaging 1,158 square feet. Community amenities including a resort-style pool, heated lounge, fitness center, co-working spaces, sports simulators, and more. The property is situated near The Chatham and Summit Train Stations.
The JLL Capital Markets Debt Advisory team, led by Michael Klein, Thomas E. Didio, Jr., and Ryan Carroll, facilitated the financing. “The significant amount of interest from lenders prior to the property’s stabilization is a testament to the quality of the product, highly desirable location and strength of the sponsor,” said Klein.
- ◦Financing
