JLL Capital Markets announced it successfully brokered the sale and secured acquisition financing for Ridge Pointe, a premier 132-unit multi-housing community located at 1 Executive Blvd. in Fort Lee, Bergen County.
JLL represented the seller and also acted on behalf of the buyer, SELA Realty Investments, LLC. Additionally, JLL’s Debt Advisory team helped the buyer secure a competitive floating-rate loan through Balbec Capital LP.
Originally constructed in 1985 and adaptively reused from office space to residential use in 2014, Ridge Pointe stands out in the Fort Lee submarket for its exceptionally generous floor plans. Units average 1,296 square feet—offering substantially more space than competing area properties.
The seven-story mid-rise features a mix of studio, one-, two-, and three-bedroom layouts complete with condo-style finishes, floor-to-ceiling windows, and sweeping, panoramic views of the Manhattan skyline and the George Washington Bridge.
Residents also enjoy more than 20,000 square feet of luxury amenities, including:
- Rooftop lounge and screening room
- Golf simulator
- Fitness center, spin room, and yoga room
- Billiards room and children’s playroom
Situated less than one mile from the George Washington Bridge, the transit-oriented property grants easy access to Midtown Manhattan via multiple NJ Transit bus lines and the Edgewater Ferry Landing (NY Waterway).
Ridge Pointe benefits from Fort Lee’s robust demographic profile. Nearly half of local residents are renters, with average household incomes exceeding $145,000. Furthermore, 79% of residents within a one-mile radius are white-collar professionals, 65% hold a bachelor’s degree or higher, and the area is served by three Blue Ribbon schools (Bergen County Tech, The Elisabeth Morrow School, and The Roosevelt School).
“Ridge Pointe’s oversized floor plans create a differentiated living experience that provides families and professionals working from home with substantially more usable space than competing properties in the submarket,” Mike Oliver, JLL senior managing director said. “Combined with the property’s transit-oriented location, embedded upside potential from additional parking delivery, and constrained new supply pipeline, this asset represents a compelling value-add opportunity in one of New Jersey’s most desirable submarkets.”
“There is substantial liquidity in the debt fund space today for multifamily opportunities,” Gerard Quinn, JLL senior director added. “Balbec recognized this opportunity and was able to quickly provide an attractive financing solution for SELA in today’s competitive lending environment.”
The JLL Capital Markets Sales and Advisory team representing the seller was led by Senior Managing Directors Mike Oliver, Steve Simonelli, and Jose Cruz, alongside Senior Director Elizabeth DeVesty, Director Austin Pierce, and Senior Analyst CJ Anania. The Debt Advisory team was spearheaded by Senior Managing Director Thomas E. Didio, Jr., Senior Director Gerard Quinn, Associate Michael Mataras, and Analyst Tyler Caricato.
