Apollo Global Management Provides $160 Million Refinance Loan For Multifamily Property In Jersey City

The Multifamily property located at 400 Claremont Ave in Jersey City, NJ has recently undergone a refinancing transaction. The property sits on 3.0 acres and is owned by Art Johnson. The deal was facilitated by brokers Kathy Anderson and Caillin Boles from Progress Capital. The loan, amounting to $160,000,000, was provided by Apollo Global Management. The terms of the loan include a 3.89% interest rate, a 10-year interest-only period, and are non-recourse.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $160,000,000
• Address: 400 Claremont Ave
• Market: Jersey City, NJ
• Acres: 3.0
• Landlord: Art Johnson
• Brokers: Kathy Anderson & Caillin Boles - Progress Capital
• Lender: Apollo Global Management
• Loan Type: Refinance
• Loan Terms: 3.89% rate, 10-years I/O, Non-Recourse

This transaction showcases the collaboration between Art Johnson as the landlord, Kathy Anderson and Caillin Boles from Progress Capital as the brokers, and Apollo Global Management as the lender. Through this refinancing deal, Art Johnson was able to secure favorable loan terms, taking advantage of the 3.89% interest rate and a 10-year interest-only period. The loan is also non-recourse, providing added security for Art Johnson.