J&L Companies, Inc Acquires Multifamily Property In Newark, NJ For $94M

The multifamily property located at 55 Union Street in Newark, NJ has recently been involved in a closed transaction. The loan for this property was provided by Valley National Bank, Bank Hapoalim, Abanca USA, and TriState Capital Bank. The loan amount totaled $94,000,000. The property consists of a total of 403 units.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $94,000,000
• Address: 55 Union Street
• Market: Newark, NJ
• Lender: Valley National Bank, Bank Hapoalim, Abanca USA, TriState Capital Bank
• Landlord: J&L Companies, Inc - Jose Lopez
• Brokers: Drew Fletcher, Matthew Hirsch, Steven Deck - Greystone
• Units: 403

The individuals and companies involved in this deal include Drew Fletcher, Matthew Hirsch, and Steven Deck from Greystone who represented the parties as brokers. The landlord of the property is J&L Companies, Inc, with Jose Lopez as the representative.