Greystone Secures $286M Refinance for Northern NJ Apartment Portfolio
Greystone has arranged a $285.7 million bridge loan for Capodagli Property Company to refinance a Class A multifamily portfolio consisting of four newly developed properties in Northern New Jersey. The portfolio includes over 1,000 residential units and 30,000 square feet of retail space, all located in transit-oriented submarkets.
The loan, provided by PGIM, refinances existing senior debt and returns additional capital to Capodagli. The properties in the portfolio include:
– Meridia Village Commons, South Orange – 106 units
– Meridia Pompton Lakes – 212 units
– Meridia Linden – 402 units
– Meridia Little Ferry – 294 units
Greystone Capital Advisors acted as the exclusive advisor on the transaction.
“This financing highlights the strong demand from institutional lenders for high-quality transitional multifamily opportunities,” said Drew Fletcher, president of Greystone Capital Advisors. “The tailored structure delivers significant equity recapture for the sponsors while enhancing their capital efficiency and supporting the portfolio’s long-term performance.”
Hear insights from industry leaders at Cushman & Wakefield, Thorofare Capital, Charney, GFP, and Greystone at the upcoming Connect New York Apartments Investment & Finance event on October 23.
