Namdar Group Secures 358 Million Construction Loan From Affinius Capital Kennedy Wilson Tyko Capital

The asset is a multifamily property in the Jersey City market, located at 29 Van Reipen Avenue and 612 Pavonia Avenue. The financing is a construction loan totaling $358,000,000 for the asset.

Summary of transation details:

• Property Type: Multifamily
• Transaction Amount: 358,000,000
• Market: Jersey City
• Addresses: 29 Van Reipen Avenue; 612 Pavonia Avenue
• Lenders: Craig Solomon - Affinius Capital; William McMorrow - Kennedy Wilson; Adi Chugh - Tyko Capital
• Landlord(s): Andrew Namdar; Daniel Namdar - Namdar Group
• Landlord's Representatives: Nick Scribani - Newmark; Jordan Roeschlaub - Newmark; Max Ralby - Newmark
• Date: 08/07/2025
• Loan Type: Construction

Key participants include Namdar Group owners Andrew Namdar and Daniel Namdar as landlords, with Newmark acting as landlord's representative through Nick Scribani, Jordan Roeschlaub and Max Ralby. The financing is arranged by Adi Chugh of Tyko Capital on behalf of the construction lender group, alongside Craig Solomon of Affinius Capital and William McMorrow of Kennedy Wilson.