JLL Capital Markets has successfully secured a $44 million financing package for The Delford, an upscale apartment complex located in Rochelle Park, Bergen County, NJ. The loan was obtained through Nuveen Real Estate and was facilitated by a team from JLL led by senior managing directors Michael Klein and Jon Mikula, along with vice president Ryan Carroll. Tulfra Realty Company, the borrower of the loan, was represented by JLL in this transaction.
The Delford is situated at 120 W. Passaic St., just 16 miles west of New York City. This newly developed Class A luxury community offers one-, two- and three-bedroom apartments to its residents. Amenities include an outdoor swimming pool, coworking lounge area, bicycle storage facilities,a fitness center,and outdoor grilling and dining areas.The community consists of 136 market-rate units as well as 24 affordable units.
According to Mikula,”This successful transaction highlights the robustness of capital markets for new multifamily developments in prime locations.”
