Riverwalk Phase III & IV: $131.1 Million bridge financing secured for luxury multifamily in Elmwood Park
United States, Aug. 6 -- JLL Capital Markets announced today that it has secured a $131.1 million senior financing for Riverwalk Phase III & IV, a 390-unit luxury multifamily/mixed use development in Elmwood Park, Bergen County, New Jersey.JLL represented the borrower, a privately-owned real estate development company headed by Bernard F. Langan, in arranging the five-year, fully extended floating-rate loan through MF1 Capital LLC, a 50/50 JV between Limekiln Real Estate and Berkshire Residential.Riverwalk Phase III & IV (also known as The Landings at Riverwalk) consists of four apartment buildings situated on a seven-acre site along the Passaic River. Phase III, comprising 240 units across two buildings, was completed in early 2023 and is ...
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