West Windsor, NJ — JLL Capital Markets has arranged permanent financing for Woodmont Way at West Windsor, a 443-unit, garden-style, luxury multi-housing community in West Windsor, Mercer County.
JLL represented the borrower, Woodmont Properties (Woodmont), to secure the five-year, fixed-rate loan through Northwestern Mutual.
Constructed in 2022, the 13-building Woodmont Way at West Windsor features a mix of one-, two- and three-bedroom apartment units. The units feature quartz countertops, stainless steel appliances, in-unit washers and dryers, a private patio and balcony, nine-foot ceilings, oversized windows, wood-style plank floors, and expansive walk-in closets. Community amenities include a two-story clubhouse, a swimming pool and sundeck, a resident lounge with fireplace and golf simulator, state-of-the-art gym, a game den, a dog park, a pet spa, outdoor courtyards with pickleball and more.
Situated at 100 Woodstone Circle, Woodmont Way at West Windsor is located near State Route 1 and State Route 206. It is within a 20-minute drive to the Princeton Airport and a three-mile commute to the Princeton Junction train. Nearby amenities include the Mercer County Park and Princeton Battlefield State Park, as well as the stores and restaurants at Princeton Market Fair and Shops at Windsor Green. There are also significant employers in the immediate area, including the Bristol-Myers Squibb Research and Development Headquarters and the 2.3-million-square-foot Carnegie Center Office Campus. In addition, Princeton University is within two miles of the property by car.
The JLL Capital Markets Debt Advisory team was led by senior managing director Thomas Didio, senior director Thomas E. Didio Jr., senior analyst Salvatore Buzzerio and analyst Benjamin Morgenthal.
“This financing is the culmination of Woodmont’s planning, delivery and lease-up of the premier garden-style community in the greater Princeton submarket. Northwestern Mutual moved quickly to lock rate in a highly volatile treasury market protecting the borrower from any further upward movements in base rates. JLL is pleased to bring Woodmont and Northwestern Mutual together to consummate this transaction in a highly challenged market,” said Didio, Jr.
In a separate transaction, JLL Capital markets brokered sale of six-story walk-up in New York on behalf of long-term ownership.
The buyer was Lawrence Movtady’s Movcap investment company. The sale price was $5.25 million.
The JLL Capital Markets team representing the seller included managing directors Hall Oster and Paul Smadbeck, vice presidents Teddy Galligan and Conrad Martin and associate ,.
211 West 85th St. features 13 apartments configured as three two-bedrooms, one three-bedroom and nine four-bedrooms. Well maintained over 30 years of ownership, the property has a rear yard and is within easy walking distance of the neighborhood’s many attractions.
Steps from the main Broadway retail corridor, as well as a variety of popular bars and restaurants along Amsterdam Avenue, the building is two blocks from both Central and Riverside parks. In addition, the 86th Street subway station lies within one block, providing quick and convenient access to Midtown Manhattan.
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