18A — June 8 - 21, 2018 — Creative Financing — Financial Digest — M id A tlantic
Real Estate Journal
www.marejournal.com
C reative F inancing
In Egg Harbor Township, New Jersey D2 Capital Advisors arranges $34.7M for Franklin Realty Dev. to construct Harbor Landing E the debt and equity providers were able to get comfortable with.
ggHarborTown- ship, NJ — D2 Cap- ital Advisors , the transaction advisory affiliate of the D2 Organization , has successfully arranged $34.7 million in construction financing on behalf of Peter Gebert , president of Frank- lin Realty Development , to begin the ground-up construc- tion of the Harbor Landing apartments in Egg Harbor Township. The financing was provided by a regional bank and an unnamed equity source. The class-A multifamily development will consist of 204 luxury units across eight garden style apartment build- ings and include a 3,500 s/f clubhouse. The amenity rich community will include a salt water resort style pool, a fitness center, tennis and vol- leyball courts, and two fenced dog runs. Ground breaking is expected to begin within 60 days. Egg Harbor Township is
“We involved D2 early on in our process and their in- put throughout proved to be invaluable,” said Gebert, president of Franklin Realty Development. “D2 directly addressed all complexities in the deal and delivered us the desired financing structure for us to achieve our goals.” “We were working in a sub- market that has had no new apartment construction since 2002 and currently exceeded a 95% occupancy rate,” said Keith Delaney, President of D2 Organization. “All of the fundamentals you look for in a ground-up development project were there, once we got our financing sources comfortable with the market it came down to structure and execution, the latter of which was never a concern as Franklin Realty has proven to be an experienced and suc- cessful developer.”
used its market acumen to highlight to positive trends Harbor Landing apartments rendering
the fastest growing township in southern New Jersey. D2
in Egg Harbor and create a financing structure that both
Congratulates
$34,700,000 Construction Financing for HARBOR LANDING 204 unit luxury multifamily development in Egg Harbor Township, NJ.
Financing Arranged By:
Contact D2 Capital Advisors for all of your real estate financing and advisory needs 484.322.5440 | www.d2organization.com
David Frankel dfrankel@d2organization.com
Jack Cortese jcortese@d2organization.com
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