Novel Property Ventures scores financing for New Jersey apartment complex

TRD TRI-STATE /
Oct.October 31, 2019 01:08 PM

(Credit: JLL)

An Essex County apartment community has secured $117.86 million in financing, NJBIZ reported. JLL arranged the loan for Everly Roseland, which includes 360 apartment units. The firm “worked on behalf of the borrower, Novel Property Ventures,” to secure the loan; a $96.36 million senior loan came from an international bank, and a $21.5 million mezzanine loan came from J.P. Morgan Asset Management, according to the outlet. The community’s amenities include a clubhouse, a fitness center, a swimming pool, a tennis court and a dog park. [NJBIZ]


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