Starfield Companies Secures $80M Construction Loan For Surfhouse Asbury Park

Starfield Companies has secured an $80 million construction loan from Unity Capital for Surfhouse Asbury Park, a 226-unit multifamily development located at 1150 Kingsley Street in Asbury Park, NJ. This loan allows for the construction of the project, which is set to be a transformative addition to the Asbury Park waterfront district.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $80,000,000
• Lender: Evan Bell - Unity Capital
• Landlord: Starfield Companies
• Brokers: Jon Mikula, Matthew Pizzolato & Ryan Carroll - JLL

The loan financing for Surfhouse Asbury Park was arranged by JLL Capital Markets, with additional equity capital of $21 million raised through CrowdStreet. This collaboration between Starfield Companies, Unity Capital, and JLL Capital Markets highlights the significant support and expertise behind this development project.