HFF secured an $80 million refinancing for North Independence at The Shipyard, a 185-unit luxury multi-housing community in Hoboken, New Jersey.
Working on behalf of Ironstate Development, HFF placed the 12-year, fixed-rate loan with a life insurance company. Loan proceeds were used to pay off an existing mortgage.
North Independence at The Shipyard is located within the Shipyard neighborhood, which consists of five multi-housing communities that share amenities, retail, a one-acre park, ferry stop and marina on the Hudson River.
The HFF debt placement team representing the borrower was led by senior managing director Thomas Didio and associate director Samuel Seiden.