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

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.