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| Garabrant is located in the historic neighborhood of Bergen-Lafayette |
MORRISTOWN, NJ – JLL
Capital Markets announced it has arranged a $20.5 million refinancing for Garabrant in
Jersey City, New Jersey.
JLL worked on behalf of the borrower, Point Capital Development, LLC, to place the 10-year, fixed-rate conventional loan through Freddie Mac.
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| Matthew Pizzolato |
Garabrant is located in the historic neighborhood of
Bergen-Lafayette.
Situated just one block from Liberty State Park’s Hudson-Bergen Light Rail station and less than one mile from Interstate 78, the property offers its residents convenient access to the Hudson Waterfront, lower Manhattan and the greater New York MSA.
Situated just one block from Liberty State Park’s Hudson-Bergen Light Rail station and less than one mile from Interstate 78, the property offers its residents convenient access to the Hudson Waterfront, lower Manhattan and the greater New York MSA.
Completed in 2019, the six-story property features best-in-class
construction and unit design, offering a diverse mix of spacious studios, one-
and two-bedroom apartments.
Units feature stainless steel appliances, quartz
countertops, hardwood floors, island kitchens and large closets. Community
amenities include a roof deck with views of the Manhattan and Jersey City
skylines, a fitness center, sauna, onsite parking, bike storage and cooking
grills.
The JLL Capital Markets Debt Placement team representing the
borrower was led by Director Matthew Pizzolato.
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| John D. Fio Rito |
“I was excited to assist my client in securing and closing this
financing during a challenging capital markets environment,” stated Pizzolato.
“Coming to market for permanent financing on a recently stabilized
multifamily project in the midst of a global pandemic had its challenges but
JLL stepped in and did an excellent job getting this deal across the finish
line,” stated Fio Rito.
CONTACT:
Natalie Passarelli
Public Relations
Public Relations
Jones Lang LaSalle Americas, Inc.
200 E. Randolph St.
Chicago, IL 60601
Chicago, IL 60601
M +1 224 477 7307
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