ROSELLE, NJ—Cushman & Wakefield's Equity, Debt & Structured Finance group has teed up construction financing for Village Green on the Park, a new 932-unit, multi-phase multifamily community being built on a former golf course in Roselle, NJ. Financing was provided by US Trust, a subsidiary of Bank of America.
Village Green on the Park will be developed over five phases on the site of the former Roselle Golf Club. The new community will accommodate a growing residential population in New Jersey, particularly those that desire reasonably priced rental housing with an excellent lifestyle. The large-scale project is supported by an experienced development team, close access to transit, lush green space and abundant amenities.
Cushman & Wakefield's Equity, Debt & Structured Finance group arranged the financing, led by Jay Wagner, managing director, and Timothy Hosmer, associate, of the Boston office and John Alascio, managing director, of the New York office.
"With its unique in-fill location, The Roselle Golf Course project represents a transformative development for the Township of Roselle, bringing amenity-rich, workforce housing onto one of the few remaining large, development parcels in Northern New Jersey," says Wagner.
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