New York & Tri-State + New Jersey + Finance | May 25, 2022

BlueGatePartners LLC has secured senior construction financing for the developers of the Devan, a Class A apartment project to be built in Jersey City

BlueGate Lines Up Financing for Multifamily on Jersey City/Hoboken Border

BlueGatePartners LLC, on behalf of Hoboken-based Ursa Development Group and Fields Development, has secured senior construction financing for the Devan, a $150-million, 336-unit, Class-A transit-oriented multifamily development in Jersey City, along the Jersey City/Hoboken border. Terms of the financing weren’t disclosed.

The Devan will offer convenient access to the Hudson-Bergen Light Rail stop as well as NJ Transit and PATH stations, allowing residents an easy commute to the major employment centers throughout the New York City metro area. Additionally, residents will have a short walk to Hoboken’s popular Washington Street, lined with multiple shopping, dining, and nightlife options.

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About Paul Bubny

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. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).