The property involved in the transaction is a development site located at 201 Observer Highway in Hoboken. It encompasses a project comprising 386 units within the Hoboken Connect development and is set for completion in 2026. The asset is a 27-story property featuring 20% affordable units and has been financed through a $155 million construction loan.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $155,000,000
• Units: 386
• Address: 201 Observer Highway
• Market: Hoboken
• Lender: Scott C. Nuttall & Joseph Bae - KKR & Co.
• Landlord: Anthony Barsanti - LCOR Inc.
• Broker: JLL Capital Markets
• Loan Type: Construction
• Loan Terms: five-year, floating-rate loan
• Affordability: 20% affordable units
• Tax Credits: $90 million in Aspire Tax Credits

The transaction involved key individuals such as Scott C. Nuttall and Joseph Bae from KKR & Co., who served as lenders, and Anthony Barsanti of LCOR Inc., representing the landlord. The broker responsible for arranging the loan was JLL Capital Markets, facilitating the financing for this significant project.