PCCP Provides $164M Senior Loan for Paramus Multifamily Project

PCCP Provides $164M Senior Loan for Paramus Multifamily Project
News| October 27, 2026| Paul Bubny
New York & Tri-State + Apartment Buildings

PCCP has provided a $163.9-million senior loan to a joint venture between Russo Development and Kushner Real Estate Group for the construction of The Paramus Chapter, a two-building, 426-unit multifamily project located at 2200 Bergen Town Center Dr. in Paramus, NJ. The project broke ground in July 2026, with completion anticipated for the fourth quarter of 2028.

The Paramus Chapter will consist of two four-story buildings over concrete podiums, with approximately 5,300 square feet of ground-floor retail space. Building A will include 166 units, including 18 affordable units. Building B will include 260 units, with 38 affordable units.

“We believe this financing represents an attractive opportunity to support an experienced joint venture in the development of a high-quality, Class A multifamily asset in one of Northern New Jersey’s strongest and most supply-constrained markets,” said Lia Barsanti, SVP with PCCP. “The Paramus Chapter is poised to benefit from its exceptional location and proximity to both regional employment centers and New York City.”

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