Meridian Capital Group

NewPoint Provides $153.6M Agency Loan for Refinancing of Jersey City Apartment Tower

March 29, 2023

Publication: Rebusiness Online

JERSEY CITY, N.J. — NewPoint Real Estate Capital has provided a $153.6 million Freddie Mac loan for the refinancing of The One, a 35-story apartment tower located in Jersey City’s waterfront district. Built in 2015, The One features 451 units in studio, one-, two- and three-bedroom formats, with 10 percent of the units reserved as affordable housing. Residences are furnished with stainless steel appliances, quartz countertops and individual washers and dryers. Amenities include a pool, fitness center, children’s playroom, theater room, golf simulator, game room and a dog park. Carol Shelby and Eric Schleif of Meridian Capital Group placed the loan, which carried a seven-year term and a 35-year amortization schedule, with NewPoint on behalf of the borrower and developer, BLDG Management. The One was 98 percent occupied at the time of the loan closing.

Featuring:
Carol Shelby
Managing Director
Origination
(212)612-0251
[email protected]
Eric Schleif
Vice President
Underwriting and Loan Placement
(212)612-0160
[email protected]
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