Meridia Roselle Park 10 at 10 Westfield Ave. West in Roselle Park includes 325 apartments and several amenities. — Courtesy: Greystone
By Joshua Burd
Greystone has provided an $80 million bridge loan to Capodagli Property Co. for the developer to refinance a 325-unit apartment building in Roselle Park.
In a news release, the lender said the financing includes a two-year term at a floating rate and has a full-term interest-only structure. Proceeds will support Meridia Roselle Park 10, a recently constructed property at 10 Westfield Ave. West with features such as on-site parking, in-unit washers and dryers and keyless LATCH access.
Greystone’s Drew Fletcher and Miryam Reinitz-Kops originated the loan.
“It’s rewarding to support Capodagli’s continued growth — not only as a company, but as a force for delivering much-needed, quality housing across New Jersey’s emerging neighborhoods,” Reinitz-Kops said. “Even as they scale, they remain grounded in their mission of “Building on Belonging,” which continues to set them apart.”
John Longo, Capodagli’s chief investment officer, added: “We are proud to have successfully closed another well-executed transaction, financing for our exceptional asset in Roselle Park. It has been a pleasure collaborating with the Township of Roselle Park and Greystone to bring our vision of high quality, affordably priced housing to the community.”
