Project Overview
Project Overview
Project Overview
Location
Jersey City
Location
Jersey City
Number of Units
477 Units, 12 Stories
Number of Units
477 Units, 12 Stories
Loan Amount
$169,300,000
Loan Amount
$169,300,000
Asset Type
Multifamily
Asset Type
Multifamily
Transaction Challenges:
» Large construction loan during a challenging time in the capital market with limited construction financing liquidity » Pioneering location within Jersey City » A lot of supply being constructed in the market » Non-US citizen Sponsorship leading the deal » Tight Yield on Cost Metrics
Transaction Challenges:
» Large construction loan during a challenging time in the capital market with limited construction financing liquidity » Pioneering location within Jersey City » A lot of supply being constructed in the market » Non-US citizen Sponsorship leading the deal » Tight Yield on Cost Metrics
ArrowREA Solution:
» Our team ran a comprehensive marketing process covering the full universe of construction lenders including senior and subordinate debt sources. Ultimately secured a loan with a debt fund at the requested proceeds level [65% LTC] with partial recourse at a competitive rate.
ArrowREA Solution:
» Our team ran a comprehensive marketing process covering the full universe of construction lenders including senior and subordinate debt sources. Ultimately secured a loan with a debt fund at the requested proceeds level [65% LTC] with partial recourse at a competitive rate.
We partner with investors and developers to unlock optimal financing by leveraging our deep network of capital providers and delivering strategies tailored to each opportunity.
We partner with investors and developers to unlock optimal financing by leveraging our deep network of capital providers and delivering strategies tailored to each opportunity.
We partner with investors and developers to unlock optimal financing by leveraging our deep network of capital providers and delivering strategies tailored to each opportunity.