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1150 Kingsley Street
FINANCED

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

1150 Kingsley Street

Development Site
clock iconFinanced 166 days ago
Ryan Carroll
Jon Mikula
Matthew Pizzolato
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Summary

Loan
NEW JERSEY
Development Site

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:

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.

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Ryan Carroll's profile picture
Ryan Carroll
JLL-image
Associate, Debt & Equity
Jon Mikula's profile picture
$110M Sold
Matthew Pizzolato's profile picture

Details

Deal Summary
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FINANCED
IMAGE: Evan Bell, Jon Mikula, Matthew Pizzolato & Ryan Carroll DATE: 01/09/2024 ADDRESS: 1150 Kingsley Street MARKET: Asbury Park ASSET TYPE: Development Site LENDER: Evan Bell - Unity Capital (@UnityCapitalLLC) LANDLORD: Starfield Companies BROKERS: Jon Mikula, Matthew Pizzolato & Ryan Carroll - JLL (@JLL) LOAN AMOUNT: $80,000,000 LOAN TYPE: Construction Loan NOTE: Starfield Companies secured an $80 million construction loan from Unity Capital for Surfhouse Asbury Park, a 226-unit multifamily development in Asbury Park, NJ. An additional $21 million in equity capital was raised through CrowdStreet, with JLL Capital Markets arranging the financing for the project, set to be a transformative addition to the Asbury Park waterfront district. #

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Address1150 Kingsley Street

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