JLL Capital Markets has arranged construction financing for Iron Ore Properties for the development of a 25,000-square-foot mixed-use building with 11 luxury apartments at 104 Baker Street in downtown Maplewood, N.J.
JLL worked on behalf of Iron Ore Properties to place the three-year loan with Provident Bank.
“With very few developable sites in downtown Maplewood, 104 Baker Street presents an outstanding opportunity to deliver new apartments and commercial space to a vibrant community,” stated Max Custer, an associate at JLL’s Capital Markets Debt Placement. “Despite the ongoing COVID-19 environment, the project’s outstanding fundamentals allowed JLL to secure competitive development financing on behalf of the borrower.”
104 Baker Street is located in the heart of Maplewood’s vibrant downtown corridor and is just a quarter mile from the NJ Transit Train Station. The proposed development will include 11 luxury apartments and approximately 3,500 squa
