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HFF Arranges $40 Million Financing for North Jersey Multi-Housing Development

The Winston under construction at The Station at Lyndhurst, NJ The Winston under construction at The Station at Lyndhurst, NJ

LYNDHURST, NJ—Holliday Fenoglio Fowler arranged $40 million in financing for Phase II of The Station at Lyndhurst, known as The Winston, a luxury multi-housing community in the Meadowlands area of North New Jersey.

Working on behalf of J.G. Petrucci Company, HFF placed a $40 million construction loan for the development of The Winston through Provident Bank and Lakeland BankHFF previously assisted the borrower in 2014 with sourcing a construction/permanent loan for the development of the project’s first phase.

The Winston will add an additional 218 luxury units to the existing 192 units at The Station at Lyndhurst, which were completed in 2014.  The Winston is due for completion in early 2018 and will consist of a four-story, podium-style building situated above garage parking.  Positioned on a 6.8-acre site at 120 Chubb Avenue, the property’s Meadowlands location is near the Lincoln Tunnel entrance, providing direct access into Midtown Manhattan.  Units will feature similar amenities as The Station at Lyndhurst with common area amenities, including views of the Manhattan skyline, courtyard with lounge deck, resident lounge with billiards and arcade games, fitness center with yoga studio, dog run and complimentary shuttle service.

The HFF debt placement team representing the borrower was led by senior managing director Jon Mikula.

“There continues to be demand for suburban luxury multifamily housing that is strategically located near transit and highway access,” says Mikula.  “The success of the first phase of Station at Lyndhurst is evidence of this dynamic and Phase II will undoubtedly be the same.”

 

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