Invel Capital Acquires Waldwick Station Multifamily For $39 Million With $25.4 Million Loan

The transaction involves the acquisition of Waldwick Station, a 111-unit multifamily property located at 41 West Prospect Street in Waldwick, New Jersey. The property was acquired for $39 million and includes amenities such as a rooftop terrace, fitness center, and covered parking. It was built in 2017 and is situated near NJ Transit’s Waldwick station.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $39,000,000
• Loan Amount: $25,400,000
• Loan Type: Acquisition
• Units: 111
• Landlord: Ryan Goldstein, Adam Szabo & Steven Heller - Invel Capital
• Brokers: Gerard Quinn, John Cumming & Michael Klein - JLL
• Sale Brokers: Brian Whitmer - RePropCo; Niko Nicolaou & Ryan Dowd - Cushman & Wakefield
• Market: Waldwick

Invel Capital secured financing backed by Freddie Mac from JLL for the acquisition. The deal highlighted the collaboration between multiple brokers, emphasizing the engagement of RePropCo and Cushman & Wakefield in the transaction process.