JLL Capital Markets has arranged more than $90 million in financing for two multihousing properties in Hoboken’s Shipyard neighborhood, it said Friday.
JLL worked on behalf of Ironstate Development to secure a 10-year, fixed-rate, $84 million loan for the Vanguard, and a $6.5 million supplemental loan for North Independence, both through an insurance company lender.
The JLL Capital Markets team representing the buyer included Thomas Didio, senior managing director, and Thomas E. Didio Jr. and Max Custer, directors.
“We are pleased to work alongside Ironstate Development to facilitate the refinance and upsizing of these two prominent multifamily assets in uptown Hoboken,” Didio Jr. said in a prepared statement. “The Vanguard and North Independence remain as two of the more highly desired rental assets in Hoboken, which is testament to Ironstate’s proactive management and ownership.”
The Vanguard, at 1201 Hudson St., includes 196 apartments in studio through two-bedroom configurations, as well as 37,818 square feet of ground-floor retail. North Independence is located at 1 Independence Court and includes 185 apartments in one- to three-bedroom configurations.