Circle Squared Alternative Investments Secures $42.5M Loan For Jersey City Multifamily

The property involved in the transaction is RIVET, a 163-unit multifamily property located at 23 University Pl BLVD in Jersey City, NJ. The loan amount arranged for this property is $42,500,000.00. RIVET is situated less than one mile from the New Jersey City University campus and includes retail space. Some of the commercial tenants on the property are Five Guys, a nail salon, and a pharmacy.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $42,500,000.00
• Address: 23 University Pl BLVD, Jersey City, NJ
• Market: Jersey City
• Borrower's Representative: Michael Klein(JLL)
• Borrower: Circle Squared Alternative Investments
• Lender: Unknown

Jon Mikula and Michael Klein of JLL represented the borrower in this transaction, which involved a joint venture between The Hampshire Companies, Claremont Cos., and Circle Squared Alternative Investments. The lender involved in this refinancing deal remains undisclosed.