**Greystone Secures $286M Refinance for Northern New Jersey Apartment Portfolio**
Greystone has secured a $285.7 million bridge loan on behalf of Capodagli Property Company to refinance a four-property, Class A multifamily portfolio located across Northern New Jersey. The portfolio, which is newly constructed, comprises over 1,000 residential units and approximately 30,000 square feet of retail space in transit-oriented submarkets.
The portfolio includes the following properties:
– 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, refinances existing senior debt and returns additional capital to Capodagli Property Company. Greystone Capital Advisors acted as the exclusive advisor in 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 professionals can hear more from top leaders at companies such as Cushman & Wakefield, Thorofare Capital, Charney, GFP, and Greystone at the Connect New York Apartments Investment & Finance conference on October 23.
