**Invictus Real Estate Partners Closes $60M Construction Loan for Plainfield Mixed-Use Development**
Invictus Real Estate Partners, a private equity real estate firm, alongside its capital partners, has successfully closed a $60 million ground-up construction loan for a new mixed-use development in Plainfield, New Jersey. The financing, arranged by Brian Anderson of Cushman & Wakefield, supports a project led by the Ramani Group, a prominent New Jersey-based developer.
The development, known as The Bishop, is located at 401 E. 3rd Street and will feature 266 residential units along with 10,000 square feet of ground-floor retail space. This initiative marks Phase 2 of The Heritage, a larger master-planned community situated in the heart of downtown Plainfield, near the NJ Transit commuter rail station.
“This transaction highlights our commitment to supporting quality sponsors navigating today’s complex market,” said Eric Scheffler, Co-Founder and Managing Partner of Invictus Real Estate Partners. “The project’s prime location and the sponsor’s expertise made this an exceptional opportunity.”
The development site offers walkable access to local amenities and convenient transit connections to key employment centers, underscoring its appeal to both residents and retail tenants.
The Bishop is a significant step forward in the revitalization of downtown Plainfield and reinforces the area’s growing attractiveness as a hub for mixed-use urban development.
