MORRISTOWN, N.J., Nov. 6, 2025 – JLL Capital Markets announced today that it has secured a $15.4 million refinancing of The Clair, a brand new 40-unit community with Class A finishes in Montclair, New Jersey.

JLL represented the borrower, Hampshire Real Estate Companies, in arranging the five-year, fixed-rate loan through National Life Group.

Located at 37 Orange Rd., The Clair is strategically positioned near both the Bay St. and Walnut St. NJ Transit Stations, providing quick access to New York’s Penn Station. The community also benefits from its proximity to major highways including the Garden State Pkwy., I-280 and the retail/commercial corridors of Rte-10, Rte-3 and Rte-46. This unmatched accessibility to Montclair's most popular dining, grocery, shopping and recreational destinations within walking distance provides residents of The Clair with exceptional value.

Montclair, one of New Jersey's wealthiest municipalities with an average household income of $224,821 and home values exceeding $900,000, sits just 18 miles west of the George Washington Bridge and 23 miles from Manhattan. The 40,425-resident community spans 6.3 square miles within the New York-Newark-Jersey City Metropolitan Statistical Area and is renowned for its attractive setting, diverse population and vibrant arts scene. Montclair consistently ranks among New Jersey's best places to live due to its high quality of life, excellent education system and convenient access to New York City.

The Clair, a four-story apartment community built in 2024, offers studios, one-, two- and three-bedroom units with four designated as affordable housing. The modern apartments feature walk-in closets, spacious floor plans, stainless steel appliances and in-unit washers and dryers. Community amenities include a resident lounge, rooftop terrace, courtyard with grilling stations and remote workspaces for today's flexible lifestyle needs.

JLL Capital Market’s Debt Advisory team representing the borrower was led by Senior Directors Michael Klein and Jon Mikula and Analyst Michael Donohoe.

"The Clair represents exactly the type of high-quality, well-located asset that lenders are eager to finance in today's market," commented Klein. "Its prime location near multiple transit options and within one of New Jersey's most desirable communities, combined with the sponsor's strategic vision for value enhancement, made this an attractive financing opportunity for National Life Group."

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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The Hampshire Companies is a full-service, private real estate investment and development firm based in Morristown, New Jersey. The Hampshire Companies is a vibrant, dynamic organization that combines creative vision and superior execution, thereby enabling it to create and enhance value in real estate investments.

National Life Group has delivered on its promises to millions of people for over 176 years, guided by its vision of providing peace of mind in times of need and values to do good, be good and make good every day. National Life Group is a trade name of National Life Insurance Company, Montpelier, VT – founded in 1848, Life Insurance Company of the Southwest, Addison, TX – chartered in 1955 and their affiliates.