SAYREVILLE, N.J. — JLL has arranged a $47.5 million refinancing loan through a regional bank secured by Camelot West at Townelake. The newly delivered 176-unit luxury property was developed by sponsor Kaplan Cos. and consists of seven residential buildings. The luxury mid-rise community offers 166 market-rate units and 10 units reserved for tenants earning up to 80 percent of area median income. Floor plans are offered in one-, two- or three-bedroom options. Amenities include a fitness center, a pool, lounge area with a coffee bar, a parcel room, a barbecue area, playground, bike storage, electric vehicle charging stations and a dog park with a grooming area. JLL’s team representing the borrower was led by Michael Klein, Jim Cadranell and John Cumming.
Camelot West at Townelake, located at 5105 Brown Rd. in Sayreville, N.J., was developed by Kaplan Cos. and opened in 2024. The owner has received a refinancing loan for the 176-unit asset.
JLL Arranges $47.5 Million Refinancing for Kaplan’s Camelot West at Townelake Project in New Jersey
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