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Alpine Residential Secures $81.2 Million Refinance Loan From Freddie Mac For Multifamily Development

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FINANCED
$81,195,000
Thomas (Tom) Didio
Thomas E. Didio, Jr
Michael Mataras
+ 1

New Jersey

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MultiFamily
Financed 02/26/2025
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Property Image
FINANCED

Alpine Residential Secures $81.2 Million Refinance Loan From Freddie Mac For Multifamily Development

270 Johnston Avenue & 66 Monitor Street

See Similar Deals
MultiFamily
Financed 02/26/2025
Thomas (Tom) Didio
Thomas E. Didio, Jr
Michael Mataras
+ 1
the dealplayerscompscontact
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Summary

NEW JERSEY
Asset Type:MultiFamily
Transaction Type:Loan

The transaction involves a multifamily property located at 270 Johnston Avenue & 66 Monitor Street in Jersey City, comprising 208 units. The refinance loan amount is $81,195,000, provided through Freddie Mac, aimed at refinancing newly built multifamily properties in the Bergen-Lafayette neighborhood, close to Liberty State Park Light Rail.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $81,195,000
  • Lender: Freddie Mac
  • Landlord: William Rosato, Todd Schefler & Gideon Friedman - Alpine Residential
  • Brokers: Michael Mataras, Thomas Didio, Thomas E. Didio Jr. - JLL
  • Units: 208

JLL Capital Markets facilitated the financing arrangement for Alpine Residential. The involved brokers, Thomas Didio, Thomas E. Didio Jr., and Michael Mataras, played crucial roles in securing the loan to replace existing construction financing for the properties named Atlas and Starling.

Players

Thomas E. Didio, Jr
JLL
Thomas E. Didio, Jr
43 deals$2.9B volume
BROKER
Thomas (Tom) Didio
JLL
Thomas Didio
27 deals$2.6B volume
BROKER
Michael Mataras
JLL
Michael Mataras
15 deals$1.1B volume
BROKER
Freddie Mac
Freddie Mac
LENDER
Gideon Friedman
Gideon Friedman
5 deals$516.6M volume
LANDLORD

Details

FINANCED
IMAGE: William Rosato, Todd Schefler, Gideon Friedman, Michael Mataras, Thomas Didio, Thomas E. Didio Jr. DATE: 02/26/2025 ADDRESS: 270 Johnston Avenue & 66 Monitor Street MARKET: Jersey City ASSET TYPE: Multifamily ~ UNITS: 208 LENDER: Freddie Mac (@FreddieMacCorp) LANDLORD: Amir Hazan, William Rosato, Todd Schefler & Gideon Friedman - Alpine Residential BROKERS: Michael Mataras, Thomas Didio, Thomas E. Didio Jr. - JLL (@JLL) LOAN AMOUNT: $81,195,000 LOAN TYPE: Refinance NOTE: JLL Capital Markets arranged an $81.2 million fixed-rate Freddie Mac loan for Alpine Residential to refinance Atlas and Starling, two newly built multifamily properties in Jersey City’s Bergen-Lafayette neighborhood. The loans, secured by JLL’s Thomas Didio, Thomas E. Didio Jr., and Michael Mataras, will replace the existing construction financing for the 208-unit development near Liberty State Park Light Rail.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$81,195,000.00

Monthly NOI$541,300.00
Monthly Debt Service$513,207.63
Change in Cash Flow$0.00
Refinance Proceeds$0.00