NORTH NEW JERSEY (September 6, 2019) – Gary Cohen, senior vice president/managing director of NorthMarq’s North New Jersey office arranged the refinancing of four affordable properties in Hudson County, New Jersey.
The properties, all occupied by tenants receiving Section 8 Tenant based housing vouchers, include:
– Church Square South: 81-unit property in Hoboken
– Eastivew Apartments: 79-unit property in Hoboken
– New Floral Gardens: 91-unit property in North Bergen
– Parkview East: 71-unit property in Weehawken.
– Each of the properties have been subject to long term HAP (Housing assistance Payment) contracts and are managed by Applied Housing Management Company.
– NorthMarq arranged financing for the borrower through its relationship with two New Jersey-based banking institutions.
“With the declining interest rate environment, our client was able to refinance the properties and return equity to their partners at historically low rates.”
– Gary Cohen
The property was featured in Multi-Housing News.