The Delford at Village Center at 120 West Passaic St. in Rochelle Park — Courtesy: Tulfra Real Estate
By Joshua Burd
Tulfra Real Estate has secured permanent financing for its new 160-unit luxury apartment building in Rochelle Park, in a deal arranged by JLL.
According to the firms, Nuveen Real Estate provided the fixed-rate loan in connection with The Delford at Village Center at 120 West Passaic St. The deal, the terms of which were not disclosed, follows the recent lease-up of the property after it hit the market late last year.
JLL Vice President Ryan Carroll and senior managing directors Michael Klein and Jon Mikula sourced the loan on Tulfra’s behalf. They also secured a construction loan for the project in 2022.
“We are grateful for our financing team and their support for our vision to create thriving residential communities,” said Sonny Jumani, Tulfra’s CEO and president. “This loan marks a significant milestone in our ongoing mission to create top-tier properties that meet the high demand for luxury living in northern New Jersey.”
Located adjacent to the Westfield Garden State Plaza, The Delford is minutes from routes 4 and 17, Interstate 80 and the Garden State Parkway. Its residents occupy a mix of one- and two-bedroom units and amenities such as a lounge, an outdoor pool, a modern fitness center, a coworking lounge, bicycle storage and outdoor grilling and dining areas.
“The Delford has already carved out its place as a premier community for the growing number of young Bergen County professionals,” Jumani added.
Tulfra noted that The Delford is part of Village Center of Rochelle Park, a mixed-use development including 8,000 square feet of retail space and a 100,000-square-foot self-storage facility, which has since been sold to a self-storage operator. The project has transformed a onetime AT&T data storage site.
‘The Delford’ opens in Rochelle Park, having already hit key leasing milestone
