HKS Real Estate Advisors facilitates $46.5M loan for multifamily property in Paramus

HKS Real Estate Advisors has successfully facilitated a $46.5 million commercial mortgage-backed security loan with Citigroup for a newly developed multifamily property located at 1-5 Soldier Hill Road in Paramus. The deal was managed by John Harrington, principal and founding partner of HKS.

Comprising of 140 Class A units spread across three buildings, totaling approximately 240,000 square feet, the property sits on a sprawling 35-acre site. Designed for an exceptional living experience, the units feature spacious layouts, gourmet kitchens with quartz countertops, spa-inspired bathrooms, stainless steel appliances and private outdoor balconies. The development also offers resort-style amenities, including a pool facility, game rooms and conference rooms, ensuring residents enjoy a lifestyle of comfort and convenience.

This financing milestone was achieved for a well-established, family-owned development company with over 30 years of experience in multiresidential, mixed-use, historic renovations, and commercial/industrial properties throughout New Jersey, New York and Connecticut.