HOBOKEN, NJ—HFF reports it has arranged a $35-million refinancing deal for the 128-unit The Metropolitan of Hoboken community here.
The Florham Park, NJ-based commercial real estate and capital markets services firm worked on behalf of the borrower, AEW Capital Management, L.P. to secure the fixed-rate, three-year loan through Capital One. AEW Capital owns the property on behalf of one of its institutional clients.
The Metropolitan of Hoboken, located at 1300 Clinton and 1313 Grand streets in uptown Hoboken, was completed in 2000. The development is the 96% leased and consist of one-, two- and three-bedroom units. The two-building complex also includes 2,000 square feet of ground floor retail. The development also features some recently renovated amenities such as a fitness center, two resident lounges, a parking garage, and a landscaped courtyard with picnic area.
The HFF team representing AEW Capital was led by Managing Director Jim Cadranell, along with Senior Managing Director Jon Mikula and Associate Director Samuel Seiden.