Bushburg Secures $72.5 Million Bridge Loan From QuadReal Property Group For 286-Unit Multifamily In Jersey City
FINANCED
New Jersey
See Similar DealsMultiFamily280,000 SF
Financed 08/14/2025
FINANCED
Bushburg Secures $72.5 Million Bridge Loan From QuadReal Property Group For 286-Unit Multifamily In Jersey City
55 Orchard Street
See Similar DealsMultiFamily280,000 SF
Financed 08/14/2025
Summary
NEW JERSEY
Asset Type:MultiFamily
Price Per Square Foot:$258
Total Square Footage:280,000 SF
Transaction Type:Loan
The asset involved in this transaction is a multifamily property located at 55 Orchard Street in Jersey City, consisting of 286 units. The transaction encompasses a bridge loan financed for an amount of $72,500,000.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $72,500,000
- Lender: QuadReal Property Group - Paul Stern
- Sponsor: Bushburg
- Advisors: Max Herzog, Marko Kazanjian, Max Hulsh, Andrew Cohen, & Michael Samuelian - Institutional Property Advisors
- Loan Type: Bridge
Key individuals involved in the deal include Paul Stern representing the lender, QuadReal Property Group, and the advisors from Institutional Property Advisors, consisting of Max Herzog, Marko Kazanjian, Max Hulsh, Andrew Cohen, and Michael Samuelian.
Players
BROKERAGE
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$72,500,000.00
Monthly NOI$483,333.33
Monthly Debt Service$458,249.32
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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