NEW JERSEY—Investors Bank’s Commercial Real Estate Finance Group recently provided $44.1 million in commercial mortgage financing to McKinney Properties, which used the funds for the acquisition of a 674-bed, high-rise student housing complex in New Brunswick, N.J.
Serving Rutgers University students, the 12-story building, Rockoff Hall, is within walking distance of College Avenue and the Cook Douglas campuses. Constructed in 2005 by nonprofit real estate development company New Brunswick Development, the property was sold to McKinney Properties and Virtus Real Estate Capital.
The property consists of two- and three-bedroom units.
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