Truist Lends $277M on Jersey City Multifamily Tower Build
A joint venture between Rockpoint and Urby has secured $277 million of construction financing to develop the second phase of a multifamily tower in Jersey City, Commercial Observer has learned. Truist provided the loan for the sponsorship’s 748-unit 201 Hudson – by Urby project…
A joint venture between Rockpoint and Urby has secured $277 million of construction financing to develop the second phase of a multifamily tower in Jersey City, Commercial Observer has learned. Truist provided the loan for the sponsorship’s 748-unit 201 Hudson – by Urby project…
BELLINGS Intelligence Score: 12
Why it matters
This is a routine construction loan for a large multifamily development, representing ordinary commercial real estate financing activity without novel structure or systemic impact.
Sources
Commercial Observer
Truist Lends $277M on Jersey City Multifamily Tower Build
A joint venture between Rockpoint and Urby has secured $277 million of construction financing to develop the second phase of a multifamily tower in Jersey City, Commercial Observer has learned. Truist provided the loan for the sponsorship’s 748-unit 201 Hudson – by Urby project…
Connect CRE
Newmark Arranges $277M Loan for Urby/Rockpoint JV on Jersey City Apartments
Newmark arranged a $277-million construction loan on behalf of a joint venture between Urby and Rockpoint, for 201 Hudson – by Urby, a 748-unit multifamily development planned on the Jersey City waterfront. Co-Head of Global Debt & Structured Finance Jordan Roeschlaub and Vice…