Jeva Lin - Spring Property Management Secures $17.25M Loan For 99-Unit Mixed-Use Building In Journal Square, Jersey City With Lender @ArborRealtyTrust

A mixed-use property located at 125-129 Magnolia Avenue in Journal Square, Jersey City has been involved in a recent transaction. The property consists of 99 units and is situated in an attractive market. The deal was represented by Brad Domenico from Progress Capital and Niko Nicolaou from Gebroe Hammer Associates acted as the buyer/seller broker.

Summary of transaction details

• Property Type: Mixed-use
• Transaction Amount: $17,250,000
• Date: 04/02/2021
• Address: 125-129 Magnolia Avenue, Journal Square, Jersey City
• Market: Journal Square, Jersey City
• Units: 99

Arbor Realty Trust, represented by Eric Regenbogen, provided the loan for this acquisition. The loan amount of $17,250,000 is set for a 10-year fixed term with full-term interest only. The landlord, Jeva Lin, is associated with Spring Property Management. The buyer/seller broker, Niko Nicolaou from Gebroe Hammer Associates, was involved in the deal along with Brad Domenico from Progress Capital.