August 19, 2019 Comments Off on JLL Secures Construction Loan for Bergen County Rentals Views: 703 New Jersey, New York News, Tri-State Area New York

JLL Secures Construction Loan for Bergen County Rentals

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JLL arranged financing for the development of Englewood Circle, a 220-unit, Class A multifamily property in the upscale Bergen County community of Englewood, NJ. Financial terms weren’t disclosed.

A JLL team of Jon Mikula, Michael Klein and Andrew Zilenziger worked on behalf of the developers, a joint venture between the Claremont Companies and Cypress Equity Investments, to secure the five-year construction loan through Principal Real Estate Investors.

Englewood Circle is being constructed on 2.54 acres at 40 Bennett Rd. in Englewood. Due for completion in 2020, the transit-oriented community offers convenient access to major thoroughfares, including Interstate 95, Route 4 and Palisades Interstate Parkway.

“We are excited to be a part of Claremont’s foray into Englewood, a town that has seen tremendous growth, specifically in the luxury multihousing space,” said Mikula. “Englewood Circle will provide the newest and most amenity-intensive project in Englewood.”

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