Hornrock, GTIS Partners JV lands $115M Refi of 389-unit, Ivy & Green, in Hackensack

12/11/2024

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MHN

• Subcategory: Capital Markets: Debt, MF: Market Rate

• Tag: Closing

• Additional Filters-Subcategory: Capital Markets: Debt-Refinance, MF: Midrise

• Company: Jones Lang LaSalle (NYSE: JLL), GTIS Partners

A joint venture between Hornrock Properties and GTIS Partners has obtained $115 million in refinancing for Ivy and Green, a 389-unit luxury multifamily property in Hackensack, N.J.

JLL Capital Markets secured the eight-year, fixed-rate loan through Northwestern Mutual Life Insurance Co. Previous financing included a $72.5 million construction loan originated by Banc of California in October 2020, according to Yardi Matrix information.