### Ariel Secures $9M JV Equity for Northern NJ Apartment Acquisition
The Capital Services Group at Ariel Property Advisors 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 deal was facilitated by Ben Schlegel, Director in the Capital Services Group at Ariel Property Advisors, alongside Paul McCormick, Partner in Sales Management, who represented the borrower.
“This transaction illustrates the strong appetite from JV partners for newly constructed properties 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.”
Located at **41 W. Prospect St. in Waldwick, NJ**, Waldwick Station was built in 2017 and consists of **110 residential units and one commercial unit** across **100,000 square feet**. Positioned just west of an NJ Transit Main/Bergen County Line stop, the property offers convenient commuter rail access to Manhattan and is close to Waldwick’s downtown shopping district.
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