Nest Micro Apartments, a 122-unit, mid-rise luxury apartment building at 190 Academy Street in the Journal Square neighborhood of Jersey City, NJ |
MORRISTOWN, NJ, May 16, 2022 – JLL Capital Markets has arranged the $25.5 million financing of Nest Micro Apartments, a 122-unit, mid-rise luxury apartment building in the Journal Square neighborhood of Jersey City, New Jersey.
Matthew Pizzolato |
Completed in July of 2021, Nest Micro
Apartments is a six-story building consisting of 122 studios.
The
custom-designed and fully furnished units feature transformable furniture,
wood-style and tile flooring, and stainless-steel appliances.
Community
amenities include a fitness center, a recreation room with pool/ping pong
table, large screen TV, laundry facilities, bike storage and a rooftop terrace
with grilling station.
Max Custer |
Located at 190 Academy St., the property is situated in The Journal Square neighborhood, which offers a community-focused mix of working-class residents and is anchored by the Loews Jersey Theatre.
The
PATH Train System is a seven-minute walk from the property, providing residents
a 10-minute ride to World Trade Center and a 22-minute right to midtown Manhattan.
Michael Oliver |
“Our client did an excellent job
developing this Class A asset,” Pizzolato said. “Argentic stepped up and
offered attractive terms that will allow our client to season and stabilize the
property.”
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 investment and sales advisory, debt advisory, equity advisory or a recapitalization.
Salvatore Buzzerio |
The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
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CONTACT:
Jenna
Sharp
JLL
Associate
Public Relations
Phone: +1 214 394 3356
Email: Jenna.Sharp@am.jll.com
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