A rendering of Englewood Circle, a planned 220-unit luxury apartment project at 40 Bennett Road in Englewood — Courtesy: JLL
By Joshua Burd
A joint venture is eyeing a 2020 delivery for new luxury apartments in Englewood, brokers with JLL said, having secured construction financing for the 220-unit project.
The real estate services firm announced Friday that it represented the developers, The Claremont Cos. and Cypress Equity Investments, in sourcing the loan for what will be known as Englewood Circle. Principal Real Estate Investors is providing the five-year loan for the project at 40 Bennett Road.
JLL Senior Managing Director Jon Mikula, Managing Director Michael Klein and Analyst Andrew Zilenziger led the capital markets team representing the developers. The capital markets team did not disclose the loan amount.
“We are excited to be a part of Claremont’s foray into Englewood, a town that has seen tremendous growth, specifically in the luxury multi-housing space,” Mikula said. “Englewood Circle will provide the newest and most amenity-intensive project in Englewood.”
The developers are building Englewood Circle on 2.54 acres directly across from MacKay Park, JLL said in a news release. With completion slated for next year, the community offers easy access to major thoroughfares including Interstate 95, Route 4 and the Palisades Interstate Parkway.