October 31, 2016
BlueGate Arranges Financing for Harrison Station 330
BlueGate Partners, LLC (“BlueGate”) arranged $67.4 million in permanent financing from Freddie Mac for Harrison Station 330 in Harrison, New Jersey. The Property is a newly constructed 329-unit luxury apartment complex located approximately 300 feet north of the Port Authority Trans Hudson (“PATH”). The Property is the newest building to be delivered in this burgeoning transit-oriented market only 20 minutes from Manhattan on the PATH. The first class amenities at the Property include a resort-style pool, bocce ball court, and firepits, among others, while units contain modern and contemporary finishes including oak plank floors, stainless steel appliances and Ceasarstone countertops.
The Property was developed by the proven partnership of Ironstate Development and The Pegasus Group, both of whom have a recognized history of developing successful rental projects in Harrison and other transit-oriented Hudson County locations. The Property provides a desirable “one-seat” commute to Manhattan and affordable luxury living to residents, as compared to the rents achieved in Manhattan, Brooklyn and in other New Jersey Gold Coast communities.
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.