**The Lofts at Helmetta Secures $38.4M Refinancing**
JLL Capital Markets has secured a $38.4 million refinancing for The Lofts at Helmetta, a 200-unit adaptive re-use apartment and townhome complex located in Helmetta, New Jersey. The financing was arranged by senior managing directors Jim Cadranell and Michael Klein, along with analyst Michael Donohoe, on behalf of Kaplan Companies. The five-year, fixed-rate loan was provided by Nuveen Real Estate.
Situated in Middlesex County, The Lofts at Helmetta is a transformation of the historic Helme Snuff Mill Complex. Originally constructed in 1886, the mill operated for more than a century before closing in 1993. The redevelopment project consists of five buildings, including the Helme Building with 106 units, the Mills Building with 74 units, and three townhome structures.
“The Lofts at Helmetta represented an exceptional opportunity to refinance a distinctive multifamily asset with strong performance metrics in a prime central New Jersey location,” said Cadranell. “The property’s historic character, modern amenities, and professional management by Kaplan Companies have created a unique living environment that continues to attract residents looking for quality housing in Middlesex County.”
