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34 Bank rental complex will be located near the Netcong Train Station, above. (Credit: Adam Moss)
A joint venture between CrownPoint Group, The Hampshire Cos. and Circle Squared Alternative Investments has secured $19.88 million in financing for a project in Morris County.
M&T Bank provided the 36-month, floating-rate construction loan, according to NJBIZ. JLL arranged the financing. The developers will use the funds to build a 126-unit “transit-oriented” apartment complex known as 34 Bank. The property will be within walking distance of the Netcong Train Station and downtown Netcong, according to NJBIX. [NJBIZ]