Finance & Capital Markets
Waterfront reboot
As you’ll read in this month’s cover story, 601W Cos. is drawing on that experience as it prepares to reposition the 2 million-square-foot Harborside property, which it acquired earlier this year from Veris Residential Inc. for a whopping $420 million. Its plans include the addition of important but notably absent amenities such as a fitness center, a conference center and a tenant lounge, as well as a 10,000-square-foot rooftop deck that will provide uninterrupted views of Manhattan. That vision will take shape in the months ahead as 601W looks to meet the demand for dynamic, upscale spaces despite unease within the office market — with the belief that the best is still to come for Jersey City.
KRE, National land $124 million refi of 458-unit Jersey City rental tower, Cronheim says
Kushner Real Estate Group and National Real Estate Advisors have secured more than $124 million to refinance a 458-unit residential tower in downtown Jersey City.
Greystone, Tryko close $22 million refi of 101-unit affordable housing complex in Carteret
Greystone has provided a nearly $22 million loan to refinance a 10-building, 101-unit affordable housing property in Carteret.
Provident inks $19 million construction loan for Newark self-storage project, JLL says
A development team has landed a $19 million construction loan for a 1,332-unit self-storage project in Newark’s Ironbound section, according to a debt placement team with JLL.
G.S. Wilcox sources $31 million loan for 152,000 sq. ft. spec industrial project in Middlesex
A developer has secured $30.5 million in financing for a 152,000-square-foot industrial building in Middlesex County, according to a debt placement team with G.S. Wilcox & Co.
