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

Kennedy Wilson Closes $175M Construction Loan for Jersey City Residential

Kennedy Wilson closed a $175-million senior construction loan for the development of Artwalk Towers, a 595-unit multifamily community in Jersey City’s Journal Square. The project’s sponsor is Kushner Real Estate Group, one of the most prolific developers in Journal Square.

Artwalk Towers will be a 49-story residential tower with a range of amenities, including an Art Walk connector to the Journal Square PATH station providing direct access to Manhattan. The project is expected to be completed in the fourth quarter of 2027.

“We are excited to close on our first loan with the Kushner Real Estate Group, which has a proven track record of delivering top-tier projects that meet the needs of the area’s residents,” said Thomas Whitesell, head of Kennedy Wilson’s Debt Investment Group. “This closing is a great way to celebrate the debt group’s one year anniversary at Kennedy Wilson, which has included more than $2.4 billion of originations to high-impact multifamily and student housing projects across the country.”

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Kennedy Wilson's Whitesell

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).

  • ◦Development
  • ◦Financing
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