The S. Hekemian Group has secured construction financing and mezzanine equity for District Building 4, a mixed-use building in Montvale, New Jersey. The amount of the financing was not disclosed. Located at 400 Market St., the three-story building will feature 25,000 square feet of ground floor retail space and 58,372 square feet of Class A medical space when it is completed in early 2024. Tenants include Pottery Barn and Williams Sonoma as well as a medical facility affiliated with Valley Hospital Surgery Center.
ConnectOne Bank provided the two-year floating rate construction loan while subordinate debt was supplied by a life insurance company to complete funding for District Building 4 which is part of an overall development featuring luxury apartments, boutique office spaces and ground floor retail outlets . JLL facilitated this transaction with Thomas R Didio leading their team .
