Luxury, Mixed-Use Development Slated for Jersey City

On Mar 4, 2016

On behalf of Kushner Companies and KABR Group, JLL’s Capital Markets experts announced the firm has secured $24.5 million in pre-development financing for One Journal Square, a proposed residential, retail and office development located in Jersey City. Santander provided the loan.

Executive Vice President Keith Kurland and Managing Director Aaron Appel led the JLL team on the transaction.

“This project sits in the heart of significant, on-going revitalization in Jersey City’s Journal Square,” said Kurland. “Backed by the sponsors’ broad expertise, the lending community was eager to play a role in the future of Journal Square.”

One Journal Square will consist of 1,634 luxury multifamily units, 121,640 square feet of retail space and 117,840 square feet of office space. The proposed development is located near the Journal Square Transportation Center and in close proximity to Manhattan.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether a sale, financing, repositioning, advisory or recapitalization execution. In 2015 alone, JLL Capital Markets completed $140 billion in investment sale and debt and equity transactions globally. The firm’s Capital Markets team comprises more than 2,000 specialists, operating all over the globe.

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