HFF Arranges Sale, $33.2M Financing for Independent Living Community in N.J.

by Jeff Shaw

TEANECK, N.J. — Holliday Fenoglio Fowler L.P. (HFF) has arranged the sale of Heritage Pointe of Teaneck, a 142-unit independent living facility in Teaneck. The buyer was Washington, D.C.-based asset management firm The Carlyle Group, according to local news outlet NorthJersey.com.

HFF marketed the property on behalf of Lowe Enterprises Investors, which was itself acting on behalf of an investment client.

In addition, HFF secured a $33.2 million floating-rate loan on behalf of the buyer through Investors Bank and TIAA Direct.

Completed in 2004, Heritage Pointe of Teaneck is a four-story independent living property that has 45 one-bedroom, 94 two-bedroom and three three-bedroom units averaging 1,045 square feet each.

The property was 97.2 percent occupied at the time of sale.

Managing directors Ryan Maconachy and Chad Lavender along with senior managing director Jose Cruz, managing director Kevin O’Hearn and associate director Michael Oliver led the HFF team representing the seller.

Managing director Steven Klein led HFF’s debt placement team.

Based in Los Angeles, Lowe Enterprises Investors provides real estate investment management services.

HFF operates out of 22 offices nationwide and provides commercial real estate and capital markets services.

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