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**Invictus Real Estate Partners Closes $60M Loan for Plainfield Mixed-Use Development**
Real estate private equity firm Invictus Real Estate Partners, along with its capital partners, has closed a $60 million ground-up construction loan for a new mixed-use development project in Plainfield, New Jersey. The financing was arranged by Brian Anderson of Cushman & Wakefield, on behalf of the project’s developer, Ramani Group, a prominent New Jersey-based development firm.
The project, known as The Bishop, will be located at 401 E. 3rd Street and will feature 266 residential units and 10,000 square feet of ground-floor retail space. The Bishop is part of Phase 2 of The Heritage, a broader master-planned development situated in downtown Plainfield, conveniently located near the NJ Transit commuter train station.
“This transaction highlights our commitment to supporting quality sponsors navigating today’s complex market,” said Eric Scheffler, Co-Founder and Managing Partner of Invictus Real Estate Partners. “The project’s prime location and the sponsor’s expertise made this an exceptional opportunity.”
Downtown Plainfield’s vibrant location offers residents walkable access to a range of local amenities and seamless transit connections to major employment centers across the region. This development is expected to play a key role in the ongoing revitalization of the city’s urban core.
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