JLL Capital Markets announced that it has arranged permanent financing for Woodmont Way at West Windsor, a 443-unit, garden-style, luxury multi-housing community located in West Windsor, Mercer County, New Jersey.
JLL represented the borrower, Woodmont Properties (“Woodmont”), to secure the five-year, fixed-rate loan through Northwestern Mutual.
Constructed in 2022, the 13-building Woodmont Way at West Windsor features a mix of one-, two- and three-bedroom apartment units. The units feature quartz countertops, stainless steel appliances, in-unit washers and dryers, a private patio and balcony, nine-foot ceilings, oversized windows, wood-style plank floors and expansive walk-in closets. Community amenities include a two-story clubhouse, a swimming pool and sundeck, a resident lounge with fireplace and golf simulator, state-of-the-art gym, a game den, a dog park, a pet spa, outdoor courtyards with pickleball and more.
Woodmont Way is within a 20-minute drive to the Princeton Airport and a three-mile commute to the Princeton Junction train. Nearby amenities include the Mercer County Park and Princeton Battlefield State Park, as well as the stores and restaurants at Princeton Market Fair and Shops at Windsor Green. There are also significant employers in the immediate area, including the Bristol-Myers Squibb Research and Development Headquarters and the 2.3-million-square-foot Carnegie Center Office Campus. In addition, Princeton University is within two miles of the property by car.
The JLL Capital Markets Debt Advisory team was led by Senior Managing Director Thomas Didio, Senior Director Thomas E. Didio Jr., Senior Analyst Salvatore Buzzerio and Analyst Benjamin Morgenthal.
“This financing is the culmination of Woodmont’s planning, delivery and lease-up of the premier garden-style community in the greater Princeton submarket. Northwestern Mutual moved quickly to lock rate in a highly volatile treasury market protecting the borrower from any further upward movements in base rates. JLL is pleased to bring Woodmont and Northwestern Mutual together to consummate this transaction in a highly challenged market,” stated Didio, Jr.
