Peter Hekemian's The Hekemian Group Secures $45 Million Loan For District Montvale Multifamily Property

The property asset involved in this transaction is District Montvale, a multifamily development consisting of 308 units located at 100 Market Street in Montvale, NJ. The property was completed in 2022 and currently features 16,000 square feet of fully leased ground-floor retail space. It is a 95%-leased property and is part of the larger DePiero Farm development.

This transaction highlights key players such as Russ Young and Scott Rechler, representing RXR, who provided the loan, alongside the North Carolina Investment Authority. Peter Hekemian of The Hekemian Group serves as the landlord for this multifamily property, orchestrating the recapitalization effort that secures the financial backing for ongoing operations.