Cushman & Wakefield has arranged a $136 million refinancing on behalf of Harrison Street Asset Management for Modera Lofts, a multifamily community in Jersey City. The 366-unit property is located at 350 Warren St. in the city’s Powerhouse Arts District, a neighborhood characterized in the financing announcement as both dynamic and constrained on the supply side.
The new loan on Modera Lofts was provided by J.P. Morgan. Cushman & Wakefield acted as exclusive advisor to Harrison Street in securing the debt, working through its Equity, Debt and Structured Finance group. The transaction underscores ongoing lender appetite for large-scale, institutional-quality rental product in transit-served urban districts.
The Cushman & Wakefield team representing Harrison Street comprised John Alascio, Alex Hernandez, Chris Moyer, Chuck Kohaut, Alex Lapidus and Meredith Donovan. In their commentary on the deal, the team highlighted Modera Lofts as a premier asset in one of Jersey City’s most competitive neighborhoods, noting the property’s sponsorship strength and the depth of lender interest generated during the process.
Alascio said the combination of strong ownership, extensive transportation access and a live-work amenity offering helped attract significant attention from the lending community. He added that securing financing with J.P. Morgan is expected to support the property’s long-term positioning and performance within the local multifamily market.
Transit access is a central feature of Modera Lofts. The property sits two blocks from the Grove Street PATH station and is also near two Hudson-Bergen Light Rail stations, offering residents direct and rapid connections to Manhattan, Hoboken and other destinations across the region. This connectivity, coupled with the building’s loft-style multifamily product, positions the asset to continue drawing demand from renters seeking proximity to employment and amenities along key transit corridors.
The refinancing reinforces the role of large national lenders and institutional advisors in Jersey City’s multifamily capital stack, particularly for scale assets in established districts such as the Powerhouse Arts District. While specific loan terms were not disclosed, the transaction illustrates that well-located, professionally sponsored multifamily properties continue to access sizable refinance capital in the current environment.
