JLL Capital Markets arranges $25.5 million financing for the 122-unit Nest Micro Apartments in Jersey City, NJ

 

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

JLL worked on behalf of the borrower, 190 Academy Urban Renewal, LLC, to secure a loan through Argentic Investment Management, LLC.

 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

Additionally, there is 1,350 square feet of ground floor retail that is anchored by Flip Sigi, a Filipino inspired taqueria.

 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

The JLL Capital Markets Debt and Equity Advisory team representing the borrower was Matthew Pizzolato, Max Custer, Michael Oliver and Salvatore Buzzerio.

 “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.

 For more news, videos and research resources on JLL, please visit our newsroom.

 

CONTACT:

 Jenna Sharp

JLL Associate

 Public Relations

Phone: +1 214 394 3356

Email: Jenna.Sharp@am.jll.com

 

The Woodmont Co. begins construction of new Starbucks in Longview, TX

   

Grant Gary

LONGVIEW, TX – The Woodmont Company, a national real estate firm specializing in the development, management, leasing and sale of retail properties, has started construction on a new Starbucks located at 3620 Estes Parkway adjacent Interstate 20 in Longview, Texas.  The restaurant will feature a drive-thru and outside seating but no indoor dining.

"We are honored to have the opportunity to be a part of the enhancement this area and of one of the main north-south arterial of Longview,” Grant Gary, president of brokerage for The Woodmont Company. 

(File rendering of Starbucks exterior logo but not related to new
Longview, TX site.)

"One trend coming out of the pandemic is food brands opening drive-thru only restaurants.  This is a perfect example of that trend.”

The Starbucks building replaces a gas station which was demolished. This restaurant will be located next to a new McDonalds.

CONTACT:

David Ebeling

Ebeling Communications

949.861.8351

949.278.7851 (Cell)

david@ebelingcomm.com

Member of the National Association of Real Estate Editors (NAREE)

“PR Strategist for the Commercial Real Estate Industry:  I do what I love and love what I do.”

 www.woodmont.com.