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HKS Real Estate Advisors facilitated a $46.5 million commercial mortgage-backed securities loan with Citigroup for Soldier Hill Commons in Paramus.

The New York-based real estate advisory announced the financing with Citigroup May 30. HKS Principal and founding partner John Harrington managed the transaction.

Located at 1-5 Soldier Hill Road, the 35-acre site offers 140 Class A residences. Spread across three buildings, the total footprint is approximately 240,000 square feet.

According to HKS, the units feature spacious layouts, gourmet kitchens and quartz countertops, spa-like bathrooms, stainless steel appliances and private outdoor balconies. The living package is rounded out by amenities, such as a pool and game and conference rooms.

The property has a controversial local history centered on contamination concerns. The development won approval in 2020 following 45 years of litigation.

According to HKS, the unnamed borrower is a well-established, family-owned development company with more than 30 years experience in multifamily, mixed-use, historic renovations and commercial/industrial properties across New York, New Jersey and Connecticut.

In April, HKS closed a $5.4 million refinancing for another New Jersey multifamily project.

Located at 425-429 Avenue C in Bayonne, the new five-story building offers 19 residences. Additionally, the 19,300-square-foot property includes 19 parking spots.

HKS associate Alex Dobosh and partner Michael Lee co-brokered the deal. Emerald Creek Capital provided the loan.

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