Harrison Street Secures $136M Refi on Jersey City Loft Apartments
Cushman & Wakefield served as the exclusive advisor to Harrison Street Asset Management in arranging $136 million of refinancing for Modera Lofts, a 366-unit multifamily property located at 350 Warren St. in Jersey City’s Powerhouse Arts District. The loan was provided by J.P. Morgan.
A Cushman & Wakefield Equity, Debt and Structured Finance team of John Alascio, Alex Hernandez, Chris Moyer, Chuck Kohaut, Alex Lapidus and Meredith Donovan represented Harrison Street.
“Modera Lofts represents a premier, institutional-quality asset in one of Jersey City’s most dynamic and supply-constrained neighborhoods,” said Alascio. “The property’s strong sponsorship, exceptional transit connectivity and differentiated live-work amenity profile drove significant lender interest. We are pleased to have secured financing with J.P. Morgan that positions the asset for continued long-term success.”
Located two blocks from the Grove Street PATH station and near two Hudson-Bergen Light Rail stations, Modera Lofts provides direct and rapid transit to Manhattan, Hoboken and beyond.
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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