New York & Tri-State + New Jersey + Finance | June 21, 2023

Pomeranc Group Buys Wayne MF Property, Secures $98M Acquisition Financing

The Pomeranc Group has acquired Mountain View Crossing, a 465-unit multifamily property in Wayne, New Jersey, from UBS Realty Investors. In addition, The Pomeranc Group also landed $97.7 million acquisition financing through a five-year Fannie Mae loan from Greystone.

Located at 650 NJ-23, Mountain View Crossing is a Class A multifamily complex with various unit types and amenities, including a swimming pool, BBQ area, tennis and basketball courts, clubroom, fitness center, and dog park.

Cushman & Wakefield represented the seller and procured the buyer in the transaction with a team of Niko Nicolaou, Ryan Dowd and Peter Welch along with Brian Whitmer. C&W’s John Alascio, TJ Sullivan, Chuck Kohaut, John Spreitzer, Jason Blankfein and Mitch Rothstein served as the exclusive advisor to The Pomeranc Group in the procurement of the acquisition financing. The five-year Fannie Mae loan provided by Greystone was originated by Triloki Kaushal, Judah Rosenberg and Zane Teslik.

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About Emily Fu

Emily Fu is Content Director of Connect Commercial Real Estate, where she covers the east coast markets, including New York, Boston & New England, and DC & Mid-Atlantic markets. She produces daily news stories as well as longer-form content, ranging from Q&As to thought-leadership pieces. She also writes feature stories for Connect Money. With previous stints at Reuters, Seeking Alpha, and Commercial Observer, Emily has covered the finance side of the commercial real estate industry, technology, media, telecom (TMT), and fashion. She attended the Columbia Graduate School of Journalism and currently resides in Manhattan.

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