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Greystone Secures $286M Refi on Northern NJ Residential Portfolio
Greystone arranged a $285.7-million bridge loan on behalf of Capodagli Property Company to refinance a four-property Class A multifamily portfolio across Northern New Jersey. The newly built portfolio includes more than 1,000 residential units and 30,000 square feet of retail space in transit-oriented submarkets.
The properties include the 106-unit Meridia Village Commons in South Orange, the 212-unit Meridia Pompton Lakes; the 402-unit Meridia Linden and the 294-unit Meridia Little Ferry. The loan was provided by PGIM and refinances existing senior debt while returning additional capital to the sponsor. Greystone Capital Advisors served as exclusive advisor on the transaction.
“This financing highlights the strong demand from institutional lenders for high-quality transitional multifamily opportunities,” said Drew Fletcher, president of Greystone Capital Advisors. “The tailored structure delivers significant equity recapture for the sponsors while enhancing their capital efficiency and supporting the portfolio’s long-term performance.”
Hear from top leaders at Cushman & Wakefield, Thorofare Capital, Charney, GFP, Greystone and more at Connect New York Apartments Investment & Finance on October 23.
- ◦Financing
