The Hekemian Group Scores $45M Recap From RXR, North Carolina Investment Authority

AI Summary

The Hekemian Group secured a $45 million loan from RXR and the North Carolina Investment Authority to recapitalize District Montvale. The financing concerns the 308-unit multifamily property, which opened in 2022 as part of the larger DePiero Farm development in Montvale, New Jersey.

The Hekemian Group has secured a $45 million loan to recapitalize District Montvale, a 308-unit multifamily property that opened in 2022 and is part of the larger DePiero Farm master development in Montvale, N.J., Commercial Observer can first report.  RXR and the North Carolina Investment Authority (NCIA) provided the debt, which comes out of RXR […]