Affinius Capital has provided a $310m (£267.3m) construction loan to finance the development of a 1,049-unit, Class A residential project in the US being developed by Namdar Group.
The financing, arranged by Walker & Dunlop Capital Markets Institutional Advisory, will fund the construction of Park Tower in Jersey City’s Journal Square neighbourhood.
David Greenburg, co-head of debt origination at Affinius Capital, said: “Park Tower will be among Journal Square’s premier multifamily projects capitalising on the neighbourhood’s continued growth.
“This project aligns with our strategy of financing exceptional multifamily assets with top-tier sponsorship, and we look forward to continuing our partnership with Namdar Group.”
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