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New York & Tri-State  + New Jersey  + Finance  | 

Tower Management Lines Up $12M Credit Facility

JLL Capital Markets announced today that it has arranged a $12-million credit facility for Tower Management Service L.P. that will be secured by four separate properties. Headquartered in River Edge, NJ, Tower Management owns approximately 20 garden-style apartment communities located in New York State and New Jersey.

The line of credit will include Tower Management’s Bayard Street Apartments in New Brunswick, NJ; Spring Gardens apartments in New Providence, NJ; Windsor Terrace apartment community in New Windsor, NY; and Paltz River apartments in Montgomery, NY.

JLL’s Capital Markets team representing Tower Management was led by Thomas Didio and Zachary Chaikin.

Pictured: Spring Gardens.

For comments, questions or concerns, please contact Paul Bubny

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-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 7-10 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).

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