HFF Facilitates New Jersey Multifamily Acquisition

By Adriana Pop, Associate Editor

HFF has secured acquisition financing for The Brownstones at Englewood South, a 350-unit, Class A apartment community located in Englewood, N.J.

The Brownstones at Englewood South

Working on behalf of the borrower, HFF placed the seven-year, fixed-rate acquisition loan with Guardian Life Insurance Company of America.

The property is located just off of Route 4 in Englewood at 73 Brownstone Way. Situated on approximately 9.2 acres, the community features five buildings encompassing a mix of studio, one- and two-bedroom loft- and townhome-style units with an average size of 1,046 square feet. Interior amenities include granite countertops, stainless appliances, in-unit washers/dryers, oversized breakfast bars, surround sound and balconies/terraces. Residents here have access to an outdoor heated swimming pool, hot tub, state-of-the-art fitness center, outdoor dining patio with fireplace, recreation room, business center, dog park and an expansive courtyard.  The property, which is 97 percent leased, also comprises 12,521 square feet of street level retail.

Senior Managing Director Thomas Didio led the HFF debt placement team representing the borrower.

Image courtesy of HFF