NYC based real estate private equity company Invictus Real Estate Partners has originated an $89.5 million construction loan for the next phase of the Harrison Yards mixed use development in New jersey.
Cole Schotz P.C. announced it represented Invictus in connection with its origination of the construction and bridge loan to Eastone Equities LLC.
The proceeds will be used for the development of two projects located within the luxury mixed-use Harrison Yards at 600 Rodgers Boulevard South, 700 Rodgers Boulevard South and 600 South Fifth Street.
Phase I includes a mixed-use building consisting of 205 residential units, 7,670 s/f of commercial space and 218 parking spaces at 600 Rodgers Boulevard South.
Phase II will comprise of 898 residential units, 204,709 s/f of retail, 1,350 parking spaces and a 200-key hotel. Phase II is located at 700 Rodgers Boulevard South and 600 South Fifth Street.
The $340 million transit oriented development (TOD) is situated next to the renovated Harrison Path Station and near the Red Bull Arena, home to the N.Y. Red Bulls major league soccer team.
Eastone Equities took over the project in 2018 along with partner and development manager, Accordia Realty Ventures.
The Cole Schotz team was led by member Jordan A. Fisch and included members Matthew S. Schneid, Wendy M. Berger, Jill B. Richardson, Catherine E. Bostock and Robyn A. Pellegrino, and associates Cristina M. Riggio, Isabelle R. Jacobs, Aaron Brotman and Nicole Dlugosz.