Tower Management has secured $24.2 million in acquisition financing for Hudson Ridge Apartments, a 215-unit multifamily property in North Bergen, N.J.
JLL worked on behalf of the borrower to secure the 10-year, fixed-rate loan through Freddie Mac. JLL Real Estate Capital, a Freddie Mac Optigo lender, will service the loan.
Hudson Ridge Apartments, situated at 7112-7312 Blvd. E, offers convenient access to Midtown Manhattan, Hoboken and Jersey City. The community benefits from its proximity to major transportation routes, including the New Jersey Turnpike and the Hudson-Bergen Light Rail line.
Built in 1949, Hudson Ridge Apartments features a mix of studios and one- and two-bedroom units. Apartment amenities include hardwood flooring, stainless steel appliances and oversized closets. The community offers outdoor amenities such as picnic areas and garage parking.
