CBRE secures $35.5M in permanent financing for The Essex in Belleville

CBRE secures $35.5M in permanent financing for The Essex in Belleville

CBRE announced that it has secured $35.5 million in permanent financing for The Essex, a recently acquired mixed-use residential property located at 78-102 Washington Avenue in Belleville. Financing for the newly developed, 158-unit property was provided through the Freddie Mac Lease-Up Program, designed to provide permanent multifamily loans for new multifamily properties that are entering the later stages of lease-up. The CBRE team of Judah Ha…

CBRE: Investor snags $36 million permanent loan after buying new Belleville rental property – Real Estate NJ

The Essex at 78-102 Washington Ave. in Bellville — Courtesy: CBRE By Joshua Burd The new owner of a 158-unit luxury apartment building in Belleville has closed on $35.5 million in permanent financing for the asset, brokers with CBRE announced Monday. According to a news release, Freddie Mac provided the debt in connection with what’s known as The Essex at 78-102 Washington Ave. The deal comes by way of a program that specifically supports new mu…