Hudson County, NJ

Bergenline Station

Lotus arranged a $43 million financing for the construction of a 97-unit multifamily building in Hudson County, NJ. The 10-story property is well-located, adjacent to the Bergenline Avenue Light Rail station and only 5-miles northwest of Midtown Manhattan. Lotus was able to secure financing at LIBOR plus mid-600 pricing, a Loan to Cost of 70%, and a Loan to Stabilized-Value of 80%. Related was the lender for the financing.