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HFF arranges $38 million in financing for N.J. properties

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Real estate brokerage HFF’s Florham Park office announced Tuesday it has arranged $37.9 million in financing for five garden-style multihousing properties totaling 727 units in various New Jersey locations.

In an announcement, HFF said it worked exclusively on behalf of the borrower, The PRC Group, to secure the loans in two separate transactions.  

The properties are: Grandville Towers, in Red Bank (91 units); Clifton Arms, in Lakewood (64 units); Farmingdale Gardens, in Farmingdale (176 units); Sunset Heights, in Burlington (120 units); and Willow Point, in Burlington (276 units). The portfolio is fully leased.

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Josh Burd covers real estate, economic development and sports and entertainment. Before joining NJBIZ in 2011, he spent four years as a metro reporter in Central Jersey. His email is joshb@njbiz.com and he is @JoshBurdNJ on Twitter.

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