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RIVER EDGE, NJ-The Florham Park office of Holliday Fenoglio Fowler LP has secured a $20-million refinancing for River Terrace Apartments, a 379-unit multifamily community located at 144 Bogert Rd. here.

Working exclusively on behalf of River Terrace Gardens Associates, HFF senior managing director Thomas Didio and real estate analyst Michael Oliver placed the 10-year, fixed-rate loan with Freddie Mac. HFF, which is a Freddie Mac licensed Program Plus seller/servicer, will also service the loan.

The 97% leased property has one-, two- and three-bedroom units averaging 844 square feet each. Community amenities include laundry rooms and covered parking.

According to Didio, “River Terrace Apartments has historically maintained an occupancy rate in the mid-to-high 90s, in part due to its location just off State Route 4, a major east-west thoroughfare with an abundance of commercial and retail amenities.” The borrower was represented by Richard Kahn and Thomas Cangialosi of the Hackensack-based law firm, Winne, Banta, Hetherington, Basralian & Kahn.

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