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Banking and Finance

JLL secures financing for 220-unit multifamily development in NJ

Englewood Circle, scheduled for completion in 2020

JLL announces that it has arranged an undisclosed amount of financing for the development of Englewood Circle, a 220-unit, Class A multifamily property in Englewood, New Jersey.

 JLL worked on behalf of the developers, a joint venture between The Claremont Companies and Cypress Equity Investments, to secure the five-year construction loan through Principal Real Estate Investors.

 Englewood Circle is being constructed on 2.54 acres at 40 Bennett Road directly across from MacKay Park. Due for completion in 2020, the transit-oriented community offers access to major thoroughfares, including Interstate 95, Route 4 and Palisades Interstate Parkway.

 The JLL Capital Markets team representing the developers was led by Senior Managing Director Jon Mikula, Managing Director Michael Klein and Analyst Andrew Zilenziger.

 “We are excited to be a part of Claremont’s foray into Englewood, a town that has seen tremendous growth, specifically in the luxury multi-housing space,” Mikula stated. “Englewood Circle will provide the newest and most amenity intensive project in Englewood.”

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