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300 Riverfront Boulevard
FINANCED

JLL Capital Markets Arranges $49M Loan For Riverwalk Phase IV Development In Elmwood Park

300 Riverfront Boulevard

Development Site
clock iconFinanced 136 days ago
Thomas E. Didio, Jr
John Cumming
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Summary

Loan
NEW JERSEY
Development Site

The loan transaction involves a development site located at 300 Riverfront Boulevard in Elmwood Park. The property is part of the larger Riverwalk community and offers convenient access to major highways. The loan amount for this transaction is $49,000,000 and it is a construction loan with a three-year, floating-rate term. The loan was secured by JLL Capital Markets, with $32,000,000 provided by Provident Bank and $17,000,000 in equity from Hickory CRE Lending.

Summary of transaction details

  • Property Type: Development Site
  • Transaction Amount: $49,000,000
  • Lender: Provident Bank & Hickory CRE Lending
  • Landlord: Riverwalk
  • Brokers: John Cumming & Thomas E. Didio, Jr. - JLL
  • Date: 02/09/2024
  • Market: Elmwood Park

JLL's team, led by Senior Director Thomas Didio Jr., oversaw the transaction and secured the loan from Provident Bank and equity from Hickory CRE Lending. The loan will contribute to the development of a 150-unit residential project in Elmwood Park, enhancing the Riverwalk community with modern amenities.

Players

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    4

  • Agents

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  • Agencies

    1

  • Lenders

    1

Thomas E. Didio, Jr's profile picture
Thomas E. Didio, Jr
JLL-image
Director
$162M Sold

Details

Deal Summary
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FINANCED
IMAGE: John Cumming & Thomas E. Didio, Jr. DATE: 02/09/2024 ADDRESS: 300 Riverfront Boulevard MARKET: Elmwood Park ASSET TYPE: Development Site LENDER: Provident Bank (@ProvidentBank) & Hickory CRE Lending LANDLORD: Riverwalk BROKERS: John Cumming & Thomas E. Didio, Jr. - JLL (@JLL) LOAN AMOUNT: $49,000,000 LOAN TYPE: Construction Loan LOAN TERMS: three-year, floating-rate NOTE: JLL Capital Markets secures $49M for Riverwalk Phase IV, a 150-unit Elmwood Park development, arranging a $32M loan from Provident Bank and $17M equity from Hickory CRE Lending. The project, part of the larger Riverwalk community, offers modern amenities and convenient access to major highways, overseen by JLL's team led by Senior Director Thomas Didio Jr. #

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Address300 Riverfront Boulevard

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