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  • Writer's pictureMAREJ

NorthMarq arranges $13.275M bridge loan for new construction of The Opus Apartments

North Arlington, NJ — Robert Ranieri, senior vice president/managing director of NorthMarq’s White Plains office, secured a $13.275 million bridge loan for the construction of The Opus Apartments. The 49-unit multifamily property is located on Ridge Rd. in North Arlington, NJ. The transaction was structured with a two-year term. NorthMarq negotiated the financing for the borrower through its relationship with Verus Commercial Real Estate Finance (VCREF).

“It was a pleasure working with NorthMarq to close this transaction. The NorthMarq team and VCREF worked diligently to maximize the execution of the loan for its mutual client,” said Ken Wood, managing director, VCREF.

The newly constructed OPUS apartments feature one-bedroom units and penthouse suites with state-of-the-art kitchens, spa bathrooms, high end finishes and modern open concept floor plans. Floor to ceiling windows bring in natural light and offer breathtaking views of the NYC skyline.

“The New Jersey apartment market continues to be strong and this first-class building will serve the growing need for young professionals in this market,” said Ranieri.

As a capital markets leader, NorthMarq offers commercial real estate investors access to experts in debt, equity, investment sales, and loan servicing to protect and add value to their assets. For capital sources, we offer partnership and financial acumen that support long- and short-term investment goals. Our culture of integrity and innovation is evident in our 60-year history, annual transaction volume of $16 billion, loan servicing portfolio of more than $65 billion and the multi-year tenure of our more than 600 people.


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