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Skylight, PCCP Refi Hudson Riverfront Apartments for $110M
JLL Capital Markets facilitated a $109.5-million refinancing for Riello Edgewater, a 272,191-square-foot, Class A high-rise multifamily community located on the Hudson River waterfront in Edgewater, NJ. The team represented the sponsors, Skylight Real Estate Partners and PCCP, in arranging the three-year, floating-rate loan through MF1.
Located at 99 Gorge Rd., Riello Edgewater serves the growing demographic of renters seeking larger and higher quality units, while still having access to downtown Manhattan and the five boroughs. The community offers ready connections to the George Washington Bridge and Lincoln Tunnel, as well as various public transit opportunities to the city.
Riello Edgewater is a 226-unit multifamily community featuring one-, two-, three- and four-bedroom floor plans that average 1,139 square feet, as well as luxurious multi-level penthouse suites, with select layouts incorporating dedicated home office space and wraparound balconies showcasing panoramic views of the Manhattan skyline and Hudson River. The property offers 341 parking spaces and has recently redesigned common areas.
- ◦Financing
