Valley Bank & Fulton Bank Provide $62M Construction Loan For The Hampshire Cos' Hackensack Multifamily

The Hampshire Cos has secured a construction loan from Valley Bank and Fulton Bank for the development located at 321 Main Street in Hackensack. The multifamily property consists of 270 units and the loan amount is $62,000,000.

Summary of transation details

• Property Type: Multifamily
• Transaction Amount: $62,000,000
• Date: 03/17/2023
• Address: 321 Main Street
• Market: Hackensack
• Lender: Valley Bank & Fulton Bank
• Landlord: The Hampshire Cos - James Hanson II
• Broker: Northmarq

This transaction represents the collaboration between The Hampshire Cos, serving as the landlord represented by James Hanson II, and Valley Bank and Fulton Bank as the lenders. The development is a multifamily property consisting of 270 units, located at 321 Main Street in Hackensack. The loan amount of $62,000,000 will be utilized for construction purposes.