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Walker & Dunlop Arranges $85M Bridge Loan on Jersey City Apartments
Walker & Dunlop’s Philadelphia capital markets team of John Banas, Kris Wood, Christopher Philipps, John Wilson, Rhett Saltiel and Erik DiGirolamo arranged an $85.4-million, two-year, fixed rate, non-recourse bridge loan for multifamily properties in Jersey City. The borrower was undisclosed.
The properties consist of City Line East, a 198-unit residential complex with 8,381 square feet of ground-level retail space; and City Line West, a 144-unit residential complex. Both are new construction.
Both properties are part of University Place, a larger redevelopment of the west side of Jersey City to help revitalize the New Jersey City University campus.
- ◦Financing

