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New York & Tri-State  + New Jersey  + Finance  | 

JLL Lines Up $58M Financing for Jersey City Multifamily

JLL Capital Markets arranged the $58-million refinancing for 3 Journal Square, a 240-unit, luxury, mid-rise apartment building located in Jersey City. JLL represented the borrower, 3 Journal Square Urban Renewal, LLC, to secure the seven-year, fixed-rate loan through a life insurance company.

The JLL Capital Markets Investment Sales Advisory team was led by Thomas Didio, Thomas E. Didio Jr., Gerard Quinn and John Cumming.

“This financing is a testament to the quality of product the developer has delivered to the market,” said Didio. “The lender stepped up to the plate and delivered very strong economic terms to allow the partnership to continue operating this tremendous asset in a burgeoning submarket of Jersey City.”

Built in 2017 and situated at 2955 John F. Kennedy Blvd., 3 Journal Square is set within the center of Jersey City in Journal Square, allowing residents convenient walkability to area amenities and the Journal Square PATH Station.

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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 16-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 7-10 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).

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