Wells Fargo’s Multifamily Capital has provided $150 million in financing to Intercontinental Real Estate Corporation for the take-out of 7 Seventy House, a mixed-use development located in Hoboken, NJ. The project includes market rate apartments and 10% of units restricted to 80% of area median income through New Jersey Council on Affordable Housing. Additionally, 24,667 square feet of ground level commercial space is included with a full amenity package such as resident lounge, fitness center coffee car game room children’s playroom roof terrace swimming pool bike storage and shuttle service to Hoboken Terminal station.
The financing was arranged by Shane Hogan and Andrew Cohen from Wells Fargo’s Multifamily Capital while the construction loan was originated by Robert Deignan Dean Jewett and Siobhan Doran from Wells Fargo’s Real Estate Banking on behalf Intercontinental based out Boston MA.
This post highlights Well Fargo providing $150 million for the multifamily project in Hoboken NJ which features market rate apartments along with affordable housing options plus an array amenities including commercial space for residents’ convenience.
