Updated Oct 10, 2026
Brookfield & G&S Secure $420M Construction Loan For Multifamily At 420 Marin Blvd
420 Marin Blvd Jersey City, NJ 07302, USA
$420,000,000
Building Size
—
Asset Type
MultiFamily
Closing
Jun 14, 2023
About this deal
AI
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.
On the Map
$420,000,000
MultiFamily
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Players
New Jersey MultiFamily Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.04%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93