Northmarq’s Debt + Equity team secures $3.7M construction financing for New Jersey mixed-use development

501 Station Avenue
New Jersey mixed-use property

Northmarq’s Philadelphia Debt + Equity team led by John Banas and Kris Wood arranged $3.7 million in construction financing for 501 Station Avenue in Haddon Heights, New Jersey, on behalf of Broken Ground Properties, LLC.

The tailored financing will support the ground-up delivery of a three-story, mixed-use building.  The project will feature 12 modern residential units above more than 2,000 sq. ft. of street-level commercial space in the heart of the borough.

Designed to complement the walkable downtown environment, the development will expand neighborhood housing options, create high-visibility retail opportunities for local businesses and contribute to the continued revitalization of Station Avenue.

“We’re proud to partner with Broken Ground Properties, LLC on this best-in-class development and look forward to its positive impact for the broader Haddon Heights community,” Banas said.
 

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About Northmarq 
Northmarq is one of the largest privately held commercial real estate firms in the United States, combining a nationwide presence with deep local expertise. With more than 50 offices across the country, we provide a full suite of debt, equity, investment sales, loan servicing and fund management solutions for a comprehensive range of property types. Our unique structure allows us to connect clients with the best opportunities, yet be nimble enough to ensure access to every expert across our company. The firm manages a loan servicing portfolio of over $78 billion and has completed $69.5 billion in transactions over the past three years. At Northmarq, collaboration fuels results, helping clients achieve success in every market, nationwide. For more information, visit www.northmarq.com.
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