FLORHAM PARK, NJ – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has arranged $40 million in financing for Phase II of The Station at Lyndhurst, known as The Winston, a luxury multi-housing community in the Meadowlands area of North New Jersey.
Working on behalf of J.G. Petrucci Company Inc., HFF placed a $40 million construction loan for the development of The Winston through Provident Bank and Lakeland Bank. HFF previously assisted the borrower in 2014 with sourcing a construction/permanent loan for the development of the project’s first phase.
The Winston will add an additional 218 luxury units to the existing 192 units at The Station at Lyndhurst, which were completed in 2014. The Winston is due for completion in early 2018 and will consist of a four-story, podium-style building situated above garage parking. Positioned on a 6.8-acre site at 120 Chubb Avenue, the property’s Meadowlands location is near the Lincoln Tunnel entrance, providing direct access into Midtown Manhattan. Units will feature similar amenities as The Station at Lyndhurst with common area amenities, including views of the Manhattan skyline, courtyard with lounge deck, resident lounge with billiards and arcade games, fitness center with yoga studio, dog run and complimentary shuttle service.
The HFF debt placement team representing the borrower was led by senior managing director Jon Mikula.
“There continues to be demand for suburban luxury multifamily housing that is strategically located near transit and highway access,” stated Mikula. “The success of the first phase of Station at Lyndhurst is evidence of this dynamic and Phase II will undoubtedly be the same.”
About J.G. Petrucci Company Inc.
J.G. Petrucci Company Inc. (J.G. Petrucci Co., Inc.), located in Asbury, NJ and Bethlehem, PA, is a privately held development and design/build organization with 29 years of experience in the design, development, re-development and acquisition of commercial, industrial, educational, multi-family and healthcare-related properties. Acting as the single point of contact from inception through move-in, J.G. Petrucci Co., Inc. continuously exceeds client expectations by accepting full responsibility for integrating conceptual design with functional performance thus effectively controlling costs and schedule. Through a combination of well-established relationships, proven development expertise, and in house technical capabilities, J.G. Petrucci Co., Inc. sets itself apart from its competition.
As a recognized leader in both the New Jersey and Pennsylvania markets, J.G. Petrucci Co., Inc. is proud to maintain well-established relationships with its client and tenant roster, including Merrill Lynch, Weyerhaeuser Co., Federal Express, Follett Corporation, Gargiulo Produce, St. Luke’s University Health Network, Lehigh Valley Health Network, Moravian College, Northampton Community College, Flemington BMW, ICO Polymers, SunOpta Inc., Curtiss-Wright Corporation and Synchronoss Technologies, Inc. For additional information on J.G. Petrucci Company Inc., please visit the company’s website at www.jgpetrucci.com.
About HFF
Holliday Fenoglio Fowler, L.P. (“HFF”), HFF Securities L.P. and HFF Securities Limited (collectively, “HFFS”) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 24 offices and is a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.