Jersey City

April 4, 2016 Comments Off on $165M Loan Arranged for Jersey City MF Views: 274 California News, National News, New Jersey, Northeast

$165M Loan Arranged for Jersey City MF

Meridian Capital Group, working on behalf of BLDG and Ares Management LP, has arranged $165 million in permanent financing for The One, a multifamily property at 110 First St. in Jersey City, NJ. The recently completed 35-story asset has 439 apartment units, a landscaped rooftop, and a swimming pool among its amenities.

BLDG and Ares developed the project in conjunction with Urban Development Partners. The tower also includes 10 affordable units.

Cornerstone Insurance & Financial Services provided the borrowers with the seven-year financing. The loan features a 3.5% interest rate and two years of interest-only payments, followed by a 30-year amortization schedule. Aaron Birnbaum, Carol Shelby and Dani Sabesan of Meridian Capital negotiated the financing.

Read More at Real Estate Business Online

Connect with Meridian Capital Group

Share on FacebookTweet about this on TwitterShare on LinkedInEmail this to someone

Tags: , ,

Comments are closed.