SECAUCUS, NJ-Commercial Mortgage Capital has arranged a $70million, 10-year loan with New York Life for the first two phasesof Xchange at Secaucus Junction here. The demand for units at theproperty allowed New York Life to finance this deal prior tostabilization, says CMC president Mark Scott, who arranged theloan.

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Xchange at Secaucus Junction is located at Exit 15X of the NewJersey Turnpike, adjacent to the Frank Lautenberg junction railtransfer station. The mixed‐use development, fromFraternity Meadows, combines luxury apartments and retail alongwith a sizeable amenity package, including gated covered parking,shuttle service to the train station, resident lounge with Internetcaf

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