Denholtz Properties has secured a $49.8 million Fannie Mae non-recourse, first mortgage loan for the acquisition of Solo at North Bergen, a Class A 214-garden-style apartment complex in North Bergen, NJ. The project is set to be completed over two phases during 2021 and 2022.
In August 2023 Denholtz Properties acquired the property for $89 million and it includes four five-story buildings on 5.76 acres of land with studio, one bedroom, two bedroom and two bedroom/two bathroom units available to residents. Alan Isenstadt Bruce Kaskey and Joe Tinti from KeyBank Real Estate Capital arranged financing for this transaction .
This significant investment will provide an opportunity to upgrade living standards in the area by offering quality housing options that meet modern needs while also providing economic benefits through job creation as well as tax revenue generation within North Bergen Township .
