HFF Arranges $52.2 Million Construction Loan For New Jersey Development

Ewing Township, N.J. — The 446-bed housing at the main entrance to The College of New Jersey will be complete in 2015.

college-of-New-JerseyWEBCampus TownEwing Township, N.J. — HFF has arranged a $52.5 million construction loan for Campus Town, a 446-bed, 130-unit student housing development serving The College of New Jersey in Ewing Township, New Jersey. HFF worked on behalf of the borrower, The PRC Group, to secure the 36-month, construction loan through a bank syndication led by M&T Bank that also included The Provident Bank and Columbia Bank.

 

Campus Town will be situated on 12.5 acres at the main entrance of The College of New Jersey. It will be complete in mid-2015 and will consist of seven buildings that will include more than 80,000 square feet of ground floor retail and 503 parking spaces. A full-service college bookstore operated by Barnes & Noble and the college's new fitness and activity center will occupy approximately 26,500 square feet of the retail space. Additionally, a bell tower surrounded by an open plaza will serve as a focal point for both the project and the campus.

 

The HFF team representing the borrower was led by senior managing director Jon Mikula, managing director Jim Cadranell and associate director Samuel Seiden.

 

 

 

 

 

 

 

 

 

 

 

 

 

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