G.S. Wilcox Arranges $68M Loan For 270-Unit Multifamily Project In Hackensack

The property asset involved in this transaction is a 270-unit multifamily project located at 321 Main Street in Hackensack, New Jersey. The asset features luxury elements with high-end amenities situated near transit hubs, and it operates in a market that claims a 96.2% occupancy rate. The financing for this property amounted to $68,000,000.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $68,000,000
• Address: 321 Main Street
• Market: Hackensack
• Units: 270
• Brokers: Al Raymond & Gretchen Wilcox - G.S. Wilcox

The key individuals involved in this transaction are Al Raymond and Gretchen Wilcox, who are both representatives from G.S. Wilcox & Co. They were instrumental in arranging the financing sourced through a life insurance company for Ora Hackensack, supporting the multifamily project positioned in a competitive northern New Jersey market.