Hypo Real Estate Capital Corporation closes US$ 338.3 million construction loan to PT Maxwell, LLC (US)

Hypo Real Estate Capital Corporation (“HRECC”) â€" the New York-based subsidiary of Hypo Real
Estate Bank International â€" closed a US$ 338.3 million construction loan in March for the first two phases of the development of Maxwell Place on the Hudson, a luxury condominium community in Hoboken, New Jersey.

Maxwell Place is located at 1025 â€" 1125 Maxwell Lane on the Hudson River, the former Maxwell House Coffee manufacturing facility site. When completed, the community will total four buildings, consisting of approximately 832 residential units, 1,524 parking spaces and approximately 206,000 square feet of commercial space.

Maxwell Place will be one of the most extraordinary condominium developments ever built on New Jersey’s Gold Coast. Offering an exceptional standard of luxury urban living, Maxwell Place will feature a number of top tier amenities, including spectacular direct views of Manhattan, a residents’ club, rooftop pool, fullservice fitness center and 24-hour concierge service.

Developed by PT Maxwell, LLC, a joint venture of Pinnacle Downtown and Toll Brothers’ City Living subsidiary, Maxwell Place represents a collaboration between two of the industry’s premier development
companies. Award winning, internationally recognized architect Michael Graves designed the lobbies and interior space at Maxwell Place with Hoboken’s Dean Marchetto serving as Master Plan Architect.

“We are proud to be working with Pinnacle and Toll Brothers on this historic condo development,” said Evan F. Denner, head of real estate finance for Hypo Real Estate Capital Corp. “We are also pleased to continue our market leadership position providing financing solutions to many of the region’s most visible and noteworthy residential development projects.”

Source: Hypo Real Estate

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