JLL Capital Markets arranged a $20.03-million refinancing for Solaris Lofts, a 72-unit multi-housing community in Jersey City. A team led by directors Matthew Pizzolato and Thomas E. Didio, Jr. worked on behalf of the borrower, PERE Holdings, to secure the 10-year, floating-rate loan through Freddie Mac.
“PERE Holdings did a tremendous job developing Solaris Lofts into a luxury, Class A asset,” said Pizzolato. “Freddie Mac quickly recognized the quality of the property and the strength of the borrower’s management capabilities as they have been able to maintain occupancy at the property through COVID.”
Solaris Lofts is located at 65 Maple St. in the rapidly expanding Bergen-Lafayette neighborhood. Completed in 2019, the five-story building offers a mix of studio, one-, two- and three-bedroom apartment and loft units averaging 733 square feet.
The loan will be serviced by JLL Real Estate Capital.
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism.
Email the Author
Reach over 250,000 Commercial Real Estate Professionals with Connect
Connect CRE reaches the top commercial real estate players nationwide and across all property types, offering you a variety of ways to showcase your team, your expertise and your brand to CRE decision makers.
ConnectCRE.com
The home for CRE news and everything you need to stay informed on deals, trends, and transactions, providing a platform to get your brand in front of your target audience.
Daily CRE Emails
Reaching over 150,000 inboxes across the nation every day, Connect’s Daily News emails provide advertising opportunities specific to your market.
Bi-Weekly Property Sector Emails
Focus your advertising on emails dedicated to your property sector and stay visible to current and potential clients.
Content Marketing
Position your team as experts in your field with content created by Connect’s editorial team and published on Connect’s news emails. Showcase your intelligence and broaden your reach.
