Russo Development, Hampshire Management & Fourth Edition Inc. Acquire Multifamily Property In Hackensack For $60M Loan

The multifamily property located at 160 River Street in Hackensack has been involved in a recent closed transaction. The property, managed by Russo Development, Hampshire Management, and Fourth Edition Inc., spans across 20 acres and consists of 271 units. The deal was facilitated by brokers Gretchen Wilcox, David Fryer, and Al Raymond from G.S. Wilcox.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $60,000,000
• Loan Type: Permanent Loan
• Loan Terms: 10-year loan

The loan amount for this transaction was $60,000,000, secured through a permanent loan with a duration of 10 years. This loan will contribute to the continued operation and maintenance of the property at 160 River Street.