Ora Hackensack at 321 Main St. in Hackensack — Courtesy: G.S. Wilcox & Co.
By Joshua Burd
The developers of a new 270-unit luxury apartment building in Hackensack has secured $68 million in financing, in a newly announced deal by G.S. Wilcox & Co.
According to a news release, a life insurance company provided the loan in connection with Ora Hackensack at 321 Main St., which opened late last year after a project spearheaded by The Hampshire Cos. G.S. Wilcox President Gretchen Wilcox and Principal Al Raymond sourced the debt, which has what they described as a highly competitive interest rate.
“Given the volatility in the marketplace, we were thrilled to execute another successful closing with our longstanding client relationship,” Wilcox said in a prepared statement. “It was a pleasure working with all parties involved to achieve this successful financing.”
The Wilcox team noted that Ora Hackensack is steps from the Hackensack Bus Terminal, which is currently undergoing a major renovation, and provides convenient access to Main Street’s growing selection of restaurants, retail and services. It’s also close to major economic anchors, including Hackensack University Medical Center and Bergen County’s government offices.
Amenities at the building include a rooftop clubroom with a wet bar and billiards, which opens onto an expansive terrace with fire pits, lounge seating and sweeping views of the New York City skyline. Additionally, residents have use of a modern fitness center, coworking spaces, private conference rooms and a pet spa.
Hampshire adds to Hackensack rental portfolio with debut of 271-unit project (SLIDESHOW)
