Tidewater Real Estate Co. Secures $60M Loan For Multifamily Property In Hackensack

The property involved in the transaction is a multifamily asset located at 170 Prospect Ave. in Hackensack. The transaction took place on 03/02/2021, and the property is owned by Tidewater Real Estate Co. The asset consists of 267 units and is valued at $60,000,000. The loan for the transaction was provided by John Hancock, with a 30-year self-liquidating loan term.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $60,000,000
• Date: 03/02/2021
• Address: 170 Prospect Ave.
• Market: Hackensack
• Loan Terms: 30-year self-liquidating loan
• Units: 267
• Lender: John Hancock
• Landlord: Tidewater Real Estate Co.
• Brokers: Gregory Nalbandian & Michael Lachs - JLL Capital Markets

The deal was facilitated by brokers Gregory Nalbandian and Michael Lachs from JLL Capital Markets, representing the involved parties in the transaction.