JLL Secures $131.1 Million Loan For 390-Unit Development Site In Elmwood Park

301 Riverfront Boulevard is a development site located in Elmwood Park, featuring a multifamily project comprising 390 units. The property's financing was secured at a loan amount of $131,100,000 with a focus on extensive amenities and quality housing in a high-demand area.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $131,100,000
• Lender: Connor Pensabene - MF1 Capital
• Landlord: Bernard F. Langan
• Brokers: Thomas (Tom) Didio, Thomas E. Didio, Jr, Gerard Quinn, Michael Mataras & Tyler Caricato - JLL
• Units: 390
• Market: Elmwood Park

JLL played a crucial role in the deal, representing the financial interests in securing the loan for the phased development project. The significant financing is structured as a five-year floating-rate loan to support Riverwalk Phase III & IV, emphasizing a strategic approach to meet the area's housing demands.