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JLL arranges JV equity and $16.5M acquisition debt for Jersey City project
The financing includes a $16.5 million, five-year, five-year fixed-rate acquisition loan secured through RWC Lending.
JLL Capital Markets arranged joint venture equity and acquisition financing for Jasmin Terrace II, a newly built, luxury 56-unit multifamily property in Jersey City.
JLL worked on behalf of the borrower, Tower Management Service LP, to secure JV equity from Lakerock and form a new partnership between the two firms.
JLL then represented the partnership in obtaining a $16.5 million acquisition loan with a five-year term and fixed rate from RWC Lending.
The building, delivered in 2024, is located at 412 Whiton St. in the Bergen-Lafayette neighborhood and is described as benefiting from access to light rail, connections to PATH trains and the ferry, and proximity to Liberty State Park.