Real estate private equity company Invictus Real Estate Partners and its capital partners closed a $60- million ground-up construction loan for a mixed-use development in Plainfield, NJ. Cushman & Wakefield’s Brian Anderson arranged the financing on behalf of Ramani Group, a leading New Jersey-based developer.
Known as The Bishop, the project at 401 E. 3rd St. includes 266 residential units and 10,000 square feet of ground-floor retail. It represents Phase 2 of The Heritage, a larger master development in downtown Plainfield, near the NJ Transit commuter train station.
“This transaction highlights our commitment to supporting quality sponsors navigating today’s complex market,” said Eric Scheffler, Co-Founder and Managing Partner of Invictus Real Estate Partners. “The project’s prime location and the sponsor’s expertise made this an exceptional opportunity.”
Plainfield’s downtown location offers walkable access to local amenities and direct transit connections to major employment hubs.
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