Advance Realty and DeBartolo Development have landed $70 million in financing for a recently completed, 286-unit apartment project in Harrison, in a deal arranged by brokers with HFF.
The state’s booming multifamily sector has been on display in recent weeks as developers and property managers celebrate their newest awards from the New Jersey Apartment Association.
One of Harrison’s newest luxury rental buildings is quickly approaching full occupancy, having leased 75 percent of its apartments less than a year after opening.
A global trade association has recognized Advance Realty with an accreditation tied to high standards of property management, placing it in the company of fewer than 550 firms worldwide.
Developers have marked dual milestones in their effort to transform Harrison’s waterfront, breaking ground on one luxury residential project and touting the completion of another.
Developers have taken the wraps off a new 286-unit rental community inspired by Harrison’s industrial past, the latest apartment building to come to the town’s waterfront redevelopment zone.
