JLL arranges financing for transit-oriented community

By Emily Bader
Englewood | Aug 16, 2019 at 12:02 pm

JLL announced Friday it has arranged financing for the development of an multifamily property in Englewood.

Englewood Circle, JLL said, is a 220-unit, transit-oriented community being constructed on 2.54 acres at 40 Bennett Road. It is within close access to Interstate 95, Route 4 and the Palisades Parkway.

JLL’s Capital Markets team of Jon Mikula, senior managing director; Michael Klein, managing director; and Andrew Zilenziger, analyst; worked on behalf of the developers, a joint venture between The Claremont Companies and Cypress Equity Investments, to secure a five-year construction loan through Principal Real Estate Investors.

“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 said. “Englewood Circle will provide the newest and most amenity intensive project in Englewood.”

Financial terms were not disclosed.

Emily Bader | ebader@roi-nj.com | emilybader