332 Jefferson St. in Hoboken — Courtesy: CBRE
By Joshua Burd
The owner of two Hoboken apartment buildings with a combined 131 units has secured $36 million in financing, under a transaction arranged by CBRE.
Brokers with the firm represented the borrower, which owns 332 and 1017 Jefferson St. in the city’s western end, in sourcing the loans. AEGON USA Realty Advisors LLC provided flexible terms and an attractive long-term fixed interest rate, CBRE said.
“This was the first loan closed between borrower and Aegon,” said Donna Falzarano, a vice president with CBRE’s debt and structured finance team, who closed the transaction alongside Jim Gunning and Kyle Saviano. “The highly desirable location of the real estate and the professional in-house management and leasing teams were only a few of the favorable factors that created a competitive bid process, resulting in excellent terms for the borrower.”
In a news release, CBRE noted that 332 and 1017 Jefferson St. offer a mix of one- to three-bedroom market-rate units and on-site parking in close proximity to Manhattan, along with an extensive selection of nearby restaurants, shopping and entertainment destinations.