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New York & Tri-State  + New Jersey  + Apartments  |  July 25, 2023
Emily Fu
By: Emily Fu

Slate Property Group, McCourt Partners Provide $59M for Jersey City MF Development  

Slate Property Group and McCourt Partners have provided Sequoia Development Group and Bushburg Properties with a $59 million bridge loan for the final stages of construction at 711 Montgomery Street in Jersey City’s McGinley Square neighborhood.  

The loan will facilitate the completion, lease-up, and stabilization of the 16-story, 285-unit multifamily asset. The project is set to be completed in the first quarter of 2024.  

This is Slate’s fifth loan in Jersey City, and the collaboration with McCourt Partners marks the first investment in their partnership. The project will feature a mix of apartments, communal amenities, and commercial space at street level. 

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About Emily Fu

Emily Fu is Content Director of Connect Commercial Real Estate, where she covers the east coast markets, including New York, Boston & New England, and DC & Mid-Atlantic markets. She produces daily news stories as well as longer-form content, ranging from Q&As to thought-leadership pieces. She also writes feature stories for Connect Money. With previous stints at Reuters, Seeking Alpha, and Commercial Observer, Emily has covered the finance side of the commercial real estate industry, technology, media, telecom (TMT), and fashion. She attended the Columbia Graduate School of Journalism and currently resides in Manhattan.
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