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Canoe Brook Development secures $150m financing for New Jersey multi-housing project
Transactions - JANUARY 22, 2024

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Canoe Brook Development secures $150m financing for New Jersey multi-housing project

by RELEASED

Canoe Brook Development announced that it secured $150 million in construction financing for RB3, a 426-unit, 11-story luxury apartment building to be built on the Hudson River Gold Coast in West New York, N.J. The property, which will be the only rental building directly on the waterfront, is part of the 200-acre, master-planned community known as Port Imperial and will offer residents views of the midtown Manhattan skyline.

JLL worked on behalf of the borrower to secure the five-year, fixed-rate loan through The Northwestern Mutual Life Insurance Co.

With an anticipated completion of fourth quarter 2026, RB3 will feature studio, one- and two-bedroom units with modern kitchens, quartz countertops, stainless-steel appliances, wood-style flooring, high ceilings, large balconies, wide windows and in-unit washers and dryers. The property’s amenities will include a state-of-the-art fitness center with five specialized rooms, a residential club room, private work offices

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