Greystone Secures $286M Refi on Northern New Jersey Residential Portfolio
Greystone has arranged a $285.7 million bridge loan for Capodagli Property Company to refinance a four-property Class A multifamily portfolio located throughout Northern New Jersey. The newly constructed portfolio includes more than 1,000 residential units and approximately 30,000 square feet of retail space situated in transit-oriented submarkets.
The refinanced properties include:
– Meridia Village Commons in South Orange (106 units)
– Meridia Pompton Lakes (212 units)
– Meridia Linden (402 units)
– Meridia Little Ferry (294 units)
The bridge loan, provided by PGIM, replaces existing senior debt and returns additional capital to the project sponsor. 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.”
Industry leaders from Cushman & Wakefield, Thorofare Capital, Charney, GFP, and Greystone will be among those speaking at the upcoming Connect New York Apartments Investment & Finance event, taking place on October 23.
This transaction underscores the growing investor appetite for premium multifamily assets in strategically located, transit-accessible markets across the region.
