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Kushner Companies Secures $295M Construction Loan In Jersey City Multifamily Deal

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FINANCED
$295,000,000

New Jersey

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MultiFamily
Financed 07/01/2024
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Property Image
FINANCED

Kushner Companies Secures $295M Construction Loan In Jersey City Multifamily Deal

MultiFamily
Financed 07/01/2024
the dealplayerscompscontact
Contact now

Summary

Asset Type:MultiFamily
Transaction Type:Loan

The multifamily property located at 10 Journal Square Plz in Jersey City was involved in a transaction. The loan amount for this deal was $295,000,000, and it was a Construction Loan.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $295,000,000
  • Address: 10 Journal Square Plz
  • Market: Jersey City

The individuals and companies involved in this transaction included Nikki Kushner, Laurent Morali, Nick Maki, Aden Weiner, and Ben Curtis representing Kushner Companies as landlords. The lenders for this deal were APOLLO and RXR. The brokers who facilitated this transaction were Ronnie Levine and AJ Bruno from Meridian Capital Group.

Players

AJ Bruno
CBRE
AJ Bruno
16 deals$2.1B volume(646) 448-1002
BROKER
Apollo Bank
Apollo Bank
LENDER
RXR Realty
RXR Realty
LENDER

Details

FINANCED
IMAGE: Nikki Kushner, Aden Weiner, Nick Maki, Laurent Morali, Ronnie Levine, AJ Bruno & Ben Curtiss DATE: 07/01/2024 ADDRESS: 10 Journal Square Plz MARKET: Jersey City ASSET TYPE: Multifamily LENDER: APOLLO & RXR (@One_RXR) LANDLORD: Nikki Kushner, Laurent Morali, Nick Maki (@NMaki23) Aden Weiner (@AdenWeiner), & Ben Curtis- Kushner Companies (@KushnerCompanies) BROKERS: Ronnie Levine & AJ Bruno (@AJBruno_) - Meridian Capital Group (@Meridian.Capital.Group) LOAN AMOUNT: $295,000,000 LOAN TYPE: Construction Loan

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$295,000,000.00

Monthly NOI$1,966,666.67
Monthly Debt Service$1,864,600.67
Change in Cash Flow$0.00
Refinance Proceeds$0.00