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PGIM provides $82.6M bridge loan to refinance New Jersey apartment complex
The financing is part of a larger $369.5 million debt package for a 1,340-unit New Jersey multifamily portfolio.
Capodagli Property Company has secured an $82.6 million bridge loan from PGIM to refinance Meridia Roselle Park 10, a 325-unit Class A multifamily complex in Roselle Park, New Jersey, Commercial Observer reported.
The transaction was arranged by Greystone Capital Advisors, with Commercial Observer naming Drew Fletcher, Bryan Grover, Miryam Reinitz-Kops, and Jesse Kopecky as participants in the deal.
The refinancing is the final piece of a broader 1,300-unit apartment portfolio refinancing, following $287 million in cross-collateralized bridge financing PGIM provided for four other Class A multifamily assets in New Jersey during 2025.
Commercial Observer also reported that PGIM’s total debt for the 1,340-unit portfolio was $369.5 million across multiple Meridia properties, and that Greystone’s Fletcher said splitting the cross-collateralized structure into separate deals helped Capodagli refinance each asset on consistent terms while preserving flexibility to pursue permanent financing at each property’s own rate.