Canoe Brook to develop 220 multifamily units in New Jersey
Transactions - MARCH 18, 2022

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Canoe Brook to develop 220 multifamily units in New Jersey

by Released

Canoe Brook Development, a real estate development and investment firm composed of the former founding partners of Roseland Property Company and RoeCo Holdings, has plans to develop 220 multifamily units in Warren, N.J.

Madison Realty Capital originated a $65 million loan for the project.

Located at 284 King George Road, the property extends nine acres and will include a pad site for an approved 130-key hotel. The class-A multifamily development will consist of a variety of one- to three-bedroom units spread over two buildings and offer state-of-the-art amenities, including a fitness center, outdoor pool and lounge, courtyards, a business center and 358 parking spaces. The four-story property will designate a portion of the units as inclusionary affordable. Canoe Brook sold a portion of the property to Pulte Homes, which is developing 115 for-sale townhomes and condominiums.

Josh Zegen, a managing principal and co-founder of Madison Realty Capital, said, “Warr

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