Holliday Fenoglio Fowler, L.P. (HFF) secured acquisition financing for The Brownstones at Englewood South, a 350-unit, Class A multi-housing community in Englewood, New Jersey.
Working on behalf of the borrower, HFF placed the seven-year, fixed-rate acquisition loan with Guardian Life Insurance Company of America.
The Brownstones at Englewood South is located just off of Route 4 in Englewood at 73 Brownstone Way.
Situated on approximately 9.2 acres, the property has five buildings encompassing a mix of studio, one- and two-bedroom loft- and townhome-style units, as well as 12,521 s/f of street level retail.
Units average 1,046 s/f each and have luxury finishes, including granite countertops, stainless appliances, in-unit washers/dryers, oversized breakfast bars, surround sound and balconies/terraces.
The community features an outdoor heated swimming pool, hot tub, state-of-the-art fitness center, outdoor dining patio with fireplace, recreation room, business center, dog park and an expansive courtyard. The property is 97 percent leased.
The HFF debt placement team representing the borrower was led by senior managing director Thomas Didio.
“Guardian did a great job meeting the borrower’s structuring needs and we are pleased we could work with the borrower and Guardian to successfully complete this transaction,” stated Didio.