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LIHC Investment Group And L&M Fund Management Secure $52.9M Refinance Loan For Multifamily In Jersey City

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FINANCED
$52,900,000

New Jersey

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MultiFamily
Financed 03/13/2025
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Property Image
FINANCED

LIHC Investment Group And L&M Fund Management Secure $52.9M Refinance Loan For Multifamily In Jersey City

100 Montgomery Street

See Similar Deals
MultiFamily
Financed 03/13/2025
the dealplayerscompscontact
Contact now

Summary

NEW JERSEY
Asset Type:MultiFamily
Transaction Type:Loan

The Montgomery Paulus Hook is a multifamily asset located at 100 Montgomery Street in Jersey City, comprised of 308 units. The property has secured a refinance loan amounting to $52,900,000.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $52,900,000
  • Lender: Dan Lyons - Rockport Mortgage Corporation
  • Landlord: Charlie & Andrew Gendron - LIHC Investment Group; Ron Moelis & Joe Weishaar - L+M Fund Management
  • Loan Type: Refinance

LIHC Investment Group and L+M Fund Management are engaged in property upgrades with the refinancing loan, focusing on common area renovations and unit improvements while maintaining affordable housing options for residents.

Players

Rockport Mortgage Corporation
Rockport Mortgage Corporation
LENDER
Ron Moelis
Ron Moelis
4 deals$245.7M volume
LANDLORD
LG
LIHC Investment Group
LANDLORD
LG
LIHC Investment Group
LANDLORD

Details

FINANCED
IMAGE: Dan Lyons, Charlie Gendron, Andrew Gendron, Ron Moelis & Joe Weishaar DATE: 03/13/2025 ADDRESS: 100 Montgomery Street MARKET: Jersey City ASSET TYPE: Multifamily ~ UNITS: 308 LENDER: Dan Lyons - Rockport Mortgage Corporation LANDLORD: Charlie & Andrew Gendron - LIHC Investment Group; Ron Moelis & Joe Weishaar - L+M Fund Management LOAN AMOUNT: $52,900,000 LOAN TYPE: Refinance NOTE: LIHC Investment Group and L+M Fund Management secured a $52.9 million FHA Section 223(f) refinancing loan from Rockport Mortgage Corporation for The Montgomery Paulus Hook, a 308-unit mixed-income student housing community in Jersey City. The financing will fund property upgrades, including common area renovations and unit improvements, while preserving affordable housing for residents.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$52,900,000.00

Monthly NOI$352,666.67
Monthly Debt Service$334,363.98
Change in Cash Flow$0.00
Refinance Proceeds$0.00