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SJP, Claremont land $135M loan for luxury Jersey City rentals
['Trd Staff']
New York - The Real Deal
The steady drip of Jersey City projects in the works doesn’t appear to be turning off anytime soon.
A joint venture of SJP Properties, Claremont Development and Battery Global Advisors is ready to jump into the fray.
The group landed a $135 million construction loan for The Lucy at 619 Grove Street, the Commercial Observer reported.
Blackstone Real Estate Debt Strategies also provided a $515 million loan for Kushner Companies’ One Journal Square, which recently opened to residents.
The development spans 2 million square feet across two 52-story towers, containing 1,723 units; the refinancing only covers the first phase of the development.
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