Chinese Developer Landsea Closes $102M Construction Loan For Luxury Weehawken MF Project

Rendering of Avora Waterfront, Weehawken, NJ

WEEHAWKEN, NJ—Landsea Holdings, the US subsidiary of Chinese real estate developer Landsea Group, closed on a $102.3 million construction loan for Avora, a 184-unit luxury condominium project rising on the Weehawken, NJ waterfront facing midtown Manhattan. The amenity-rich 10- and 11-story building, which also includes 6,000 square feet of ground-floor retail space, is under construction, with initial occupancy scheduled for the first quarter of 2018. The financing was secured by Landsea with the assistance of Holliday Fenoglio Fowler through the Bank of the Ozarks.

“Securing this financing reflects the appeal of Avora by a commercial lending institution eager to invest in a project with an exceptional Manhattan-centric location, world-class design, and a global marketing program that has already yielded significant pre-construction sales in the United States and abroad,” says John Ho, CEO of Landsea. “Avora continues Landsea’s nationwide strategy to acquire well-located sites in prominent United States gateway cities for transit-oriented, residential developments.”