Starwood Property Trust Provides $96M Construction Loan For Multifamily Project In Jersey City

Located at 425 Summit Avenue in Jersey City, this multifamily property was involved in a recent closed transaction. Owned by Spitzer Enterprises, the property's landlord is Eliot Spitzer. The market value of this asset in the Jersey City market adds to the appeal of this prime location.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $96,000,000
• Lender: Starwood Property Trust - Barry S. Sternlicht
• Broker: Meridian Capital Group

Noteworthy in this deal is the loan provided by Starwood Property Trust, with Barry S. Sternlicht representing the lender. The loan amount for this transaction is $96,000,000, indicating the substantial nature of the project. Additionally, Meridian Capital Group played a role as the broker in facilitating this closed transaction.