The S. Hekemian Group has secured construction financing and mezzanine equity for District Building 4, a mixed-use building in Montvale, New Jersey. The amount of the financing was not disclosed. Located at 400 Market St., this three-story building will include 25,000 square feet of ground-floor retail space and 58,372 square feet of Class A medical space with tenants such as Pottery Barn and Williams Sonoma plus a medical facility affiliated with Valley Hospital expected to be completed by early 2024.
ConnectOne Bank provided the two-year floating rate construction loan while subordinate debt was supplied by a life insurance company as part of the larger District development which includes four buildings housing luxury apartments, boutique office space and ground floor retail outlets. JLL facilitated the financing process under Thomas R Didio’s leadership team .
The post Financing Secured by S. Hekemian Group for Montvale Valley Hospital Surgery Center Development appeared first on CRE MarketBeat.
