Onkar Singh's GN Management Secures $70M Construction Loan For Jersey City Development Site With Ran Eliasaf's Northwind Group | 622 Summit Avenue | Northwind Group | Mohammad Hadla | Development Site | Loan

Summary

Loan

NEW JERSEY

Development Site

GN Management, led by Onkar Singh, secured a $70 million construction loan from Northwind Group for a 29-story, 209-unit rental building in Jersey City's Journal Square at 622 Summit Avenue. The project, located just an 11-minute walk from the PATH train station, features an innovative design with balconies on ascending floors resembling The Edge observation deck.

Summary of transaction details

Property Type: Development Site
Transaction Amount: $70,000,000
Lender: Ran Eliasaf - Northwind Group
Landlord: Onkar Singh - GN Management
Broker: Mohammad Hadla - Signature Capital Associates

In facilitating the financing for GN, Mohammad Hadla of Signature Capital Associates showcased Northwind Group's prominence as a lender amid increasing developer activity in Jersey City.

Players

All
3

Agents
1
Agencies
1
Lenders
1

Mohammad Hadla

Managing Principal

Signature Capital Associates

Northwind Group

Details

Deal Summary

FINANCED

IMAGE: Ran Eliasaf, Onkar Singh & Mohammad Hadla DATE: 02/01/2024 ADDRESS: 622 Summit Avenue MARKET: Jersey City ASSET TYPE: Development Site LENDER: Ran Eliasaf - Northwind Group LANDLORD: Onkar Singh - GN Management BROKER: Mohammad Hadla (@Hadlastic) - Signature Capital Associates LOAN AMOUNT: $70,000,000 LOAN TYPE: Construction NOTE: GN Management, led by Onkar Singh, secured a $70 million construction loan from Northwind Group for a 29-story, 209-unit rental building in Jersey City's Journal Square at 622 Summit Avenue. Featuring an innovative design with balconies on ascending floors resembling The Edge observation deck, the project is located an 11-minute walk from the PATH train station. Signature Capital Associates' Mohammad Hadla facilitated the financing for GN, reflecting Northwind Group's prominence as a lender amid increasing developer activity in Jersey City.

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Address622 Summit Avenue

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