March 11, 2016
BlueGate Arranges $78 Million Financing for URL® Harrison
BlueGate Partners, LLC (“BlueGate”) arranged a combined $78 million construction and mezzanine financing loan with Wells Fargo and Nationwide for Ironstate Development’s URL® Harrison, a to-be-developed mixed-use property, located two blocks from the Port Authority Trans Hudson (“PATH”) rapid transit station in Harrison, NJ. Scheduled to consist of 409 Class-A apartment units, a 5,300 square foot in-building cafe and 4,526 square feet of ground floor retail, URL® Harrison will be the fifth structure built in a larger planned community known as Harrison Station.
URL® Harrison will bring the new-urbanist living concept Urban Ready Living (“URL”) to Harrison which offers innovative layouts and clean designs that includes built-in furniture to allow future residents to better maximize space. Community amenities are scheduled to include an outdoor swimming pool with sundeck, a spacious on-site café, an expansive 5,300 square foot fitness center and a “smart locker” system that accepts packages so residents will never miss a delivery. With apartment amenities featuring luxurious bamboo floors, gourmet stainless steel appliances and open industrial layouts with oversized windows and an increased emphasis on establishing a community feel, URL® Harrison will set the new standard for urban living in Harrison, NJ.
BlueGate is a boutique real estate investment banking firm with offices in New York and Palm Beach, and offers services in the areas of investment sales, portfolio and property financing, and debt and equity capital raising for real estate projects.