The Landings at Riverwalk in Elmwood Park got a financial boost when Riverwalk Phase III & IV secured $131.1 million in senior financing for Riverwalk Phase III & IV. The 390-unit multifamily/mixed-use development comprises four apartment buildings located on seven acres bordering the Passaic River.
JLL Capital Markets worked with borrower Bernard F. Langan to acquire the five-year, fully-extended floating-rate loan through MF1 Capital LLC, which is a joint venture between Limekiln Real Estate and Berkshire Residential. JLL Capital Market’s Debt Advisory team was helmed by Senior Managing Director Thomas Didio, Managing Director Thomas E. Didio, Jr., Director Gerard Quinn, Associate Michael Mataras and Analyst Tyler Caricato.
“Riverwalk Phase III & IV represents a prime luxury residential opportunity in Bergen County, providing residents with high-end finishes and modern amenities in a convenient location with excellent transportation access,” noted JJL’s Thomas Didio, Jr. “The project’s strong performance to date demonstrates the continued demand for quality multifamily housing in this pocket of Bergen County.”
Phase III consists of 240 units in two buildings. It was completed in early 2023 and currently has 85% occupancy. Phase IV adds two more buildings and 150 units. Construction was finished, and lease-up began in the second quarter of 2025. The development offers a mix of one-, two-, and three-bedroom units ranging from 772 to 2,321 square feet.
The Elmwood Park property offers a wide array of luxury amenities, including an outdoor pool, courtyard, outdoor patios with BBQs, walking path along the Passaic, fitness center, multiple lounges, yoga studio, and coworking areas. The Landings at Riverwalk also offers retail spaces. The development offers easy access to major highways and public transportation.
The MLB Network recently announced they were moving their headquarters to Elmwood Park, underscoring Bergen County’s appeal to both businesses and residents.
Senior financing is a loan that takes the highest priority in a company’s capital structure, meaning it will be repaid before other debts.
