Brooksville Company And Torchlight Investors Secure $98M Acquisition Loan For 356-Unit Multifamily Property

The Grande at MetroPark is a multifamily property located at 3 Ronson Road in Iselin, N.J. This five-story complex includes 356 units, delivered in phases in 2019 and 2023, and features over 50,000 square feet of amenities. The property benefits from its proximity to the Garden State Parkway and Metropark Station and has secured a loan amount of $98,000,000 for acquisition financing.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $98,000,000
• Lender: Michael Arougheti - Ares Management
• Landlord: Daniel Heflin - Torchlight Investors; Andrew MacArthur - Brooksville Company
• Brokerage Firm: Newmark
• Brokers: Jordan Roeschlaub, Christopher Kramer, Adam Doneger & Ryan Bub

Brooksville Company and Torchlight Investors are the entities involved in securing the financing from Ares Management, with Newmark's team orchestrating the arrangement of the deal, thereby facilitating the acquisition process for the property.