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JLL Arranges Financing for Hekemian Group’s Jersey City Multifamily
JLL Capital Markets secured financing for Coles Street Apartments, a 465-unit, to-be built, high-rise luxury apartment community in Jersey City. The team of senior managing director Thomas Didio, managing director Thomas E. Didio, Jr, director Gerard Quinn and associate John Cumming worked on behalf of the borrower, The Hekemian Group, to arrange senior financing through Kennedy Wilson and mezzanine financing through Red Cove Capital. Terms were not disclosed.
Located at 305 Coles St. in historic Downtown Jersey City, Coles Street Apartments will offer residents convenient access to New York City via the nearby Grove Street and Newport PATH stations. It will provide convenient commutes to Midtown Manhattan and Hudson Yards.
“The successful arrangement of this financing underscores confidence in the NJ Waterfront and affirms the quality of this luxury development led by The Hekemian Group,” said Didio, Jr. “305 Coles is poised to meet the growing demand for high-end rentals in this thriving submarket.”
- ◦Development
- ◦Financing
