**Blackstone Provides $515M Refinance for Kushner Mixed-Use Project in Jersey City**
Newmark has arranged a $515 million loan on behalf of Kushner Companies for the refinancing of the first phase of The Journal, a newly constructed luxury multifamily development located in Jersey City.
The financing was secured by Newmark’s Jordan Roeschlaub, Nick Scribani, and John Caraviello, with funds provided by Blackstone.
The project, dubbed The Journal, totals 1.4 million square feet and features a 63-story glass residential tower. The building comprises 966 market-rate apartments, 45,000 square feet of amenity space, a 983-space parking garage, and 40,000 square feet of ground-level retail space, which is fully leased to Target.
Recently completed, this phase marks the beginning of Kushner’s broader development plan for The Journal. The full development will total 1,723 residential units and approximately 2.1 million gross square feet across two residential towers. Strategically located adjacent to the Journal Square PATH station, the development offers residents direct transit access to Manhattan, Hoboken, and Downtown Jersey City.
