Bijou Properties Secures $10M Church Loan In Montclair, NJ

The property at 65 Church St, Montclair, NJ, 07042, is a Church asset. The loan amount secured for the acquisition of this property is $10,000,000.00.

Summary of transaction details:

• Property Type: Church
• Transaction Amount: $10,000,000.00
• Borrower: Bijou Properties
• Lender: Undisclosed Institutional Lender
• Borrower's Representatives: Kevin O’Hearn(JLL), Michael Oliver(JLL), Michael Zlotnick(JLL)

The capital markets team, led by JLL, arranged $10 million in joint venture equity for the project. The mixed-use project will consist of 74 luxury apartments and 3,873 square feet of retail space. The location is less than a mile from NJ Transit’s Walnut Street and Bay Street stations, providing convenient access for residents. The project will also include amenities such as a rooftop deck with views of the New York skyline, a fitness room, and parking for 112 vehicles across two levels.