JLL arranges construction financing, JV equity for apartment community in Watchung

JLL arranges construction loan, JV equity for 230-unit upscale rental project in Watchung – Real Estate NJ

Blue Hill at Watchung — a development by The Sterling Properties Group, Danbro Properties and Marcus Partners —  is slated to bring 230 luxury apartments to a nearly 42-acre site on Bonnie Burn Road in Watchung. — Rendering courtesy: JLL By Joshua Burd A six-building, 230-unit multifamily project in Watchung is moving ahead with the help of a construction loan and joint venture equity secured by JLL. Brokers with the firm represented the sponsor…

$102M PILOT-backed Watchung luxury apartments secure financing

A Class A luxury apartment community set for Watchung has secured a construction loan and joint venture equity for the project. JLL Capital Markets announced arranging the funds Aug. 8 for Blue Hill at Watchung, located on Bonnie Burn Road. According to the global commercial real estate and investment management company, total project costs add up to $102.87 million. Comprising six four-story buildings as well as a two-story clubhouse, the commu…

JLL arranges construction financing, JV equity for apartment community in Watchung

JLL Capital Markets said on Aug. 8 that it has secured a construction loan and joint venture equity for Blue Hill at Watchung, a 230-unit, Class A luxury apartment community to be developed in Watchung. JLL represented the sponsor team, Livingston-based Sterling Properties Group and Danbro Properties of Caldwell, in arranging the loan through First Citizens Bank, headquartered in Raleigh, N.C. JLL also organized the sponsor’s joint-venture equit…