Dealmaker: Northmarq Arranges $13M for The Opus in New Jersey

(The Opus illustration courtesy of Northmarq)

Northmarq, Minneapolis, arranged $13 million in financing for The Opus, a 49-unit Class A multifamily property in North Arlington, N.J.

Robert Ranieri, Senior Vice President/Managing Director arranged the five-year loan with one year of interest-only payments followed by a 29-year amortization schedule. A local bank supplied the permanent-fixed loan.

Built in 2021, The Opus includes one-bedroom units and penthouse suites with spa bathrooms with heated floors, high-end finishes and modern open concept floor plans. Floor-to-ceiling windows offer views of the New York City skyline. Amenities include a rooftop terrace, fitness center and lounge with fireplace.

The Opus is located just 12 miles from Manhattan and five miles from MetLife Stadium, where the New York Giants and Jets play.