35 Walnut Ave. in Clark — Courtesy: JLL
By Joshua Burd
The developer of a newly built, 177-unit luxury apartment property in Clark has secured nearly $50 million in financing for the asset, in a deal arranged by JLL.
Brokers say Nationwide provided the 10-year, fixed-rate loan for the complex at 35 Walnut Ave. They noted that the development opened earlier this year and includes a pair of four-story, elevator-served buildings with a combined 149 market-rate rentals and 28 affordable units.
JLL Senior Managing Director Evan Pariser, Managing Director Matthew Pizzolato and Vice President Jackie Ferrer sourced the $49.5 million loan on the borrower’s behalf.
In announcing the deal, JLL said the property has a mix of one-, two- and three-bedroom homes with upscale design and finishes. Amenities include a fitness center, a resort-style pool and a large clubhouse outfitted with lounges, while residents are less than a minute from Garden State Parkway and have quick access to other major highways.
