NEW JERSEY—CBRE Capital Markets secured a $60 million refinance loan on behalf of The Brunetti Organization for Glenwood Apartments in New Jersey. Vice Chairmen Charles Foschini and Christian Lee and Vice President Christopher Apone of CBRE’s Miami office, in conjunction with CBRE’s New Jersey office, negotiated the financing on behalf of the borrower through Principal Real Estate Investors.
Terms of the refinance loan include 52 percent loan to value, a 15-year term and 15-year amortization rate and an aggressive interest rate.
Located at 35D Spruce Lane in Old Bridge, Glenwood Apartments is a 1,168-unit, garden-style community completed by The Brunetti Organization in several phases in the 1960s.
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