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$15.4M Loan Secured For NJ Luxury Apartment Complex Barely 1 Year Old
A newly built luxury apartment community in North Jersey has secured $15.4 million in refinancing, JLL Capital Markets announced.
The property, known as The Clair, is a 40-unit Class A residential building located at 37 Orange Road in Montclair, within walking distance of the Bay Street and Walnut Street NJ Transit stations.
JLL represented the borrower, Hampshire Real Estate Companies, in arranging a five-year, fixed-rate loan through National Life Group, officials said.
Built in 2024, The Clair features studio, one-, two-, and three-bedroom apartments, including four affordable units. Ea…
