HOBOKEN, NJ—In a deal arranged by HFF, the ownership of the Curling Club Apartments here has secured $70 million in financing for the 240-unit multifamily property.

HFF worked on behalf of the borrower, institutional investors advised by J.P. Morgan Asset Management, to secure the fixed-rate loan through Nationwide Life Insurance Co. HFF brokered the sale of the asset to the borrower in June 2014.

In the June sale, HFF marketed the property on behalf of PNC Realty Investors, Inc., as investment advisor to the AFL-CIO Building Investment Trust. The property was purchased free and clear of existing debt.

Curling Club Apartments encompasses a full city block in the uptown Hoboken submarket between Grand and Adams streets and 12th and 11th streets as well as the northern half of the block between Clinton and Grand Streets and 12th and 11th streets. Completed in 1999, the property consists of four, five-story residential buildings above a single level parking garage as well as a free-standing, single-story clubhouse and an interior courtyard. All of the apartments are two-bedroom, two-bathroom units. Community amenities include a fitness center, resident's lounge, storage units and garage parking.

The HFF debt placement team representing the borrower was led by Senior Managing Directors Jon Mikula and Tom Didio and Associate Director Samuel Seiden.