JLL Lines Up $58M Financing for Jersey City Multifamily
JLL Capital Markets arranged the $58-million refinancing for 3 Journal Square, a 240-unit, luxury, mid-rise apartment building located in Jersey City. JLL represented the borrower, 3 Journal Square Urban Renewal, LLC, to secure the seven-year, fixed-rate loan through a life insurance company. The JLL Capital Markets Investment Sales Advisory team was led by Thomas Didio, Thomas E. Didio ... The post JLL Lines Up $58M Financing for Jersey City Multifamily appeared first on Connect CRE.
JLL Capital Markets arranged the $58-million refinancing for 3 Journal Square, a 240-unit, luxury, mid-rise apartment building located in Jersey City. JLL represented the borrower, 3 Journal Square Urban Renewal, LLC, to secure the seven-year, fixed-rate loan through a life insurance company.
The JLL Capital Markets Investment Sales Advisory team was led by Thomas Didio, Thomas E. Didio Jr., Gerard Quinn and John Cumming.
“This financing is a testament to the quality of product the developer has delivered to the market,” said Didio. “The lender stepped up to the plate and delivered very strong economic terms to allow the partnership to continue operating this tremendous asset in a burgeoning submarket of Jersey City.”
Built in 2017 and situated at 2955 John F. Kennedy Blvd., 3 Journal Square is set within the center of Jersey City in Journal Square, allowing residents convenient walkability to area amenities and the Journal Square PATH Station.
The post JLL Lines Up $58M Financing for Jersey City Multifamily appeared first on Connect CRE.
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