Goldman Sachs Provides Nearly $200M for Jersey City Mixed-Income Tower
JLL Capital Markets advised on the roughly $200,000,000 structured capitalization and forward Freddie Mac commitment for Lions Group’s Homestead Gateway, a 34-story mixed-income residential tower that will deliver the first affordable housing units to Jersey City’s Journal Square neighborhood in years.
The Urban Investment Group at Goldman Sachs Alternatives provided a multi-tranched capital solution of nearly $200 million to the project, including a construction loan, bridge facility, LIHTC equity and Aspire tax credit purchase. The financing also includes a forward Freddie Mac commitment arranged by JLL Real Estate Capital, LLC.
The JLL Capital Markets Advisory team representing Lions Group included Nicco Lupo, Christopher Peck, Michael Shmuely, Jillian Grzywacz, Alex Staikos, Jimmy Cochran and Tom Didio Jr. Located at 701 Newark Ave. in Jersey City, the 360-unit development will transform a former municipal parking lot into a residential community featuring 90 affordable housing units alongside market-rate apartments.
Whether you lend, build, broker, invest, or advise in the multifamily arena, you won’t want to miss Connect Southeast Multifamily on December 4th. If you’re involved in development, repositioning, investment, asset operations, financing, or trading — these insights are designed for you. Take a look at the full event agenda and register now to be in the room on December 4th! www.ConnectSEMF2025.com
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80-Unit Seniors Housing Development Opens in Suburban Chicago
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312-Unit Multifamily in Indiana Changes Hands
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout