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Brookfield & G&S Secure $420M Construction Loan For Multifamily At 420 Marin Blvd

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FINANCED
$420,000,000
Richard Horowitz
Justin Horowitz

New Jersey

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MultiFamily
Financed 06/14/2023
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Property Image
FINANCED

Brookfield & G&S Secure $420M Construction Loan For Multifamily At 420 Marin Blvd

420 Marin Blvd Jersey City, NJ 07302, USA

See Similar Deals
MultiFamily
Financed 06/14/2023
Richard Horowitz
Justin Horowitz
the dealplayerscompscontact
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Summary

NEW JERSEY
Asset Type:MultiFamily
Transaction Type:Loan

Ullico, Washington Capital Management, and AFL-CIO Housing Investment Trust have provided a $420,000,000 construction loan for a multifamily property located at 420 Marin Boulevard in Jersey City, NJ. The property is owned by Brookfield Properties and G&S Investors.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $420,000,000
  • Lender: Ullico, Washington Capital Management, AFL-CIO Housing Investment Trust
  • Landlord: Brookfield Properties, G&S Investors

The loan was brokered by Richard Horowitz and Justin Horowitz of Cooper Horowitz.

Players

Justin Horowitz
Brookfield Properties
Justin Horowitz
32 deals$2.1B volume(212) 986-8400
BROKER
Richard Horowitz
Cooper Horowitz
Richard Horowitz
40 deals$2.7B volume
BROKER
Brookfield Properties
Brookfield Properties
BROKERAGE
United Labor Life Insurance Company (ULLICO)
United Labor Life Insurance Company (ULLICO)
LENDER
Washington Capital Management
Washington Capital Management
LENDER
AFL - CIO Housing Investment Trust
AFL - CIO Housing Investment Trust
LENDER

Details

FINANCED
IMAGE: Richard Horowitz & Justin Horowitz DATE: 06/14/2023 ADDRESS: 420 Marin Boulevard MARKET: Jersey City, NJ ASSET TYPE: Multifamily LENDER: Ullico (@Ullicoinc), Washington Capital Management & AFL - CIO Housing Investment Trust (@Aflciohit) LANDLORD: Brookfield Properties (@BrookfieldProperties) & G&S Investors BROKERS: Richard Horowitz (@RichardTodd22) & Justin Horowitz (@Juice312) - Cooper Horowitz (@CooperHorowitz) LOAN AMOUNT: $420,000,000 LOAN TYPE: Construction

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$420,000,000.00

Monthly NOI$2,800,000.00
Monthly Debt Service$2,654,685.70
Change in Cash Flow$0.00
Refinance Proceeds$0.00