### Ariel Secures $9M in Joint Venture Equity for Northern NJ Apartment Acquisition
Ariel Property Advisors’ Capital Services Group has successfully arranged over $9 million in joint venture equity for the $39-million acquisition of **Waldwick Station**, a 111-unit multifamily property in Northern New Jersey. The financing was secured by Ben Schlegel, Director of the Capital Services Group at Ariel Property Advisors, and Paul McCormick, Partner in Sales Management, representing the borrower.
“This transaction illustrates the strong appetite from JV partners for new construction properties located in supply-constrained suburban areas surrounding New York City,” said Schlegel. “By running a thorough process, our team is creating strategic partnerships between JV investors for the right transactions.”
### Prime Location with Strong Connectivity
Located at **41 W. Prospect St. in Waldwick, NJ**, Waldwick Station was built in 2017 and consists of **110 residential units and one commercial space**, spanning **100,000 square feet**. The property is strategically positioned just west of an **NJ Transit Main/Bergen County Line** stop, offering convenient commuter rail access to Manhattan. Additionally, it is close to **Waldwick’s downtown shopping district**, further enhancing its accessibility and appeal.
