Northwestern Mutual Provides $126.6M Construction Loan For Canterly Place Development Site In Livingston

Okner Developers LLC has secured a construction loan of $126,600,000 from Northwestern Mutual for Canterly Place, a development site located in Livingston. The loan has a fixed rate over a period of 10 years.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $126,600,000
• Address: Canterly Place, Livingston
• Lender: Northwestern Mutual
• Landlord: Okner Developers LLC
• Brokers: Jon Mikula, Jim Cadranell, Matthew Pizzolato & Michael Lachs - JLL

Canterly Place will comprise of 240 market-rate units and 60 affordable-rate units. The units will offer one-, two-, and three-bedroom floorplans with designer kitchens, hardwood-style flooring, oversized windows, walk-in closets, and in-unit full-size washers and dryers. The property will also feature attractive community amenities such as a hotel-style lobby, an upscale clubroom, a library lounge, a private dining area, a game room, a state-of-the-art fitness center, a coworking work-from-home lounge, a golf simulator, a resort-style pool, a paved walking path/fitness trail, a basketball court, a pickleball court, and more.