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Cammeby's Nabs $218M In Multifamily Acquisition Financing

Pleasant View Gardens, Piscataway, NJ

Cammeby's International received $218.2M in acquisition financing for the purchase of two New Jersey multifamily communities: Pleasant View Gardens in Piscataway (above) and Wayne Village in Wayne.

Meridian Capital Group's Abe Hirsch and Zev Karpel arranged the 10-year Fannie Mae loans on behalf of the buyer through Capital One Multifamily Finance, which offered fixed rates of 3.89% and seven years of interest-only payments, reports Real Estate Weekly.

Pleasant View Gardens is a 1,142-unit garden-style apartment community at 258 1/2 Carlton Ave and boasts 80 acres of open space, a swimming pool, a fitness center, a business center and a clubhouse and is conveniently located near Interstate 287. Wayne Village, at 1353 Valley Rd, totals 275 units of garden-style apartments and townhomes and features a swimming pool, fitness center and dog park. [REW]