FLORHAM PARK, NJ—HFF, working exclusively on behalf of The PRC Group, has arranged nearly $38 million in financing for five garden-style multihousing properties throughout New Jersey.
The HFF team representing the borrower was led by Senior Managing Director Jon Mikula and managing director Jim Cadranell.
Properties within the 100 percent leased portfolio receiving funding include:
- Grandville Towers, a 91-unit property at 19 Morford Place, Red Bank;
- Clifton Arms, a 64-unit multifamily property located at 220-240 9th Street in Lakewood;
- Farmingdale Gardens, a 176-unit property at 1 West Main Street in Farmingdale;
- Sunset Heights, a 120-unit multifamily housing property located at 1130 Sunset Road in Burlington; and
- Willow Point, a 276-unit property located at 1701 Salem Road in Burlington.