FINANCED
Russo Development Refinances Garwood, NJ Multifamily Property For $80M
400-490 South Avenue
MultiFamily
Financed 1 year ago
Summary
Loan
NEW JERSEY
MultiFamily
Russo Development, LLC has refinanced a multifamily property with 296 units located at 400-490 South Ave in Garwood, NJ. The loan, obtained on 01/19/2022, was for an amount of $80,000,000. The 10-year, fixed-rate, non-recourse loan was secured through a national life insurance company at a low-two percent coupon, including a nine-month forward component.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $80,000,000
- Units: 296
- Address: 400-490 South Ave, Garwood, NJ
- Market: Garwood, NJ
The refinancing loan for the property was facilitated by Thomas R. Didio, Thomas E. Didio, Jr., and Gerard Quinn of JLL Capital Markets.
Players
All
4
Agents
3
Agencies
1
Details
FINANCED
IMAGE: Thomas R. Didio & Thomas E. Didio, Jr.
DATE: 01/19/2022
ADDRESS: 400-490 South Ave
MARKET: Garwood, NJ
ASSET TYPE: Multifamily ~ UNITS: 296
LANDLORD: Russo Development, LLC
BROKERS: Thomas R. Didio, Thomas E. Didio, Jr. & Gerard Quinn - JLL Capital Markets
LOAN AMOUNT: $80,000,000
LOAN TYPE: Refinancing Loan
LOAN TREMS: 10-year, fixed-rate, non-recourse loan through a national life insurance company at a low-two percent coupon, including a nine-month forward componentView on map
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Address400-490 South Avenue
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