MetLife Real Estate Investors Grants $50M Loan For MultiFamily In Hackensack

The Meridia Metro is a six-story, 222-unit multifamily property located at 100 State St, Hackensack, NJ, 07601. metlife-real-estate-investors-duplicate''>MetLife Real Estate Investors provided nearly $50M in financing for this transit-oriented development near various transportation hubs and major roadways. The property features one- and two-bedroom units, a 24-hour fitness center, a rooftop terrace, a social room, a pet grooming room, and grade-level parking.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $50,000,000.00
• Borrower's Rep: Michael Klein(JLL)
• Lender: MetLife Real Estate Investors

HFF senior managing director Jon Mikula and managing director Michael Klein, along with HFF managing director Scott Aiese and senior managing director Mike Tepedino, played crucial roles in securing financing for Meridia Metro and Tonnelle Commons, respectively. The latter property, a 410K SF retail power center in North Bergen, recently received a $100M refinancing with a 10-year, non-recourse, fixed-rate loan. Tonnelle Commons boasts a full lease to 16 tenants, including anchor stores like Walmart, BJ's Wholesale Club, PetSmart, and Staples.