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New York & Tri-State  + New Jersey  + Finance  |  April 11, 2022
Ted Jackson
By: Ted Jackson

JLL Arranges $29M Financing for Jersey City Multifamily 

JLL Capital Markets has arranged $28.5 million in permanent financing for The Ashton, a 93-unit, six-story, Class A apartment community in Jersey City. 

JLL worked on behalf of the borrower, Normandy Opportunity Zone Fund, LP, a closed-end, fully discretionary investment fund managed by Columbia Property Trust, to secure the 10-year, interest-only, fixed-rate, loan through Morgan Stanley Real Estate. 

Built in 2020, The Ashton offers a mix of one- and two-bedroom apartments with an average size of 893 square feet. The JLL Capital Markets Debt Advisory Team representing the borrower was led by Jon Mikula and Gerard Quinn. 

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JLL's Mikula

About Ted Jackson

A highly successful financial journalist, corporate financial writer and magazine entrepreneur with strong expertise in writing on fixed income and pass-through securities (ABS), finance and banking, the economy, economic developments, financial markets, investing and personal finance, the business of behavioral healthcare and more.
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