The PRC Group Refinances Bayonne Luxury Apartment Complex For $36M With Walker & Dunlop

The PRC Group has obtained a $36 million refinance for Bayonne's luxury apartment complex, City Line Bayonne. The property, located at 317 Avenue East, is a multifamily building with 162 units. The deal was facilitated by Walker & Dunlop, with brokers John Banas, Kris Wood, John Wilson, Rhett Saltiel, and Erik DiGirolamo representing the landlord.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $36,000,000
• Units: 162
• Address: 317 Avenue East, Bayonne
• Market: Bayonne

The loan obtained by The PRC Group for City Line Bayonne's luxury apartment complex features a 10-year fixed term with flexible prepayment. The refinancing deal provides the potential for increased proceeds for the property.