CLK, LLC acquired the complex for $94 million, according to Cagan’s Realty, Inc., an affiliate of Cagan Property Management Inc. of Skokie, IL, which represented CLK in the transaction.
The $25.7-million project would include $3.04 million in mortgage financing from NJHMFA, $1.5 million from its Special Needs Housing Trust Fund, as well as $4 million from its hospital program to be matched by RWJBarnabas Health.
Jason Berkowitz and Diana Zuniga are developing 701 Rio under B&Z Development, a company formed in 2007, with a focus on acquisitions and repositions of core commercial real estate properties in Central Texas.
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