**JLL Secures Financing for Hekemian Group’s Jersey City Multifamily Development**
JLL Capital Markets has successfully arranged financing for the development of Coles Street Apartments, a 465-unit luxury high-rise apartment community planned for Jersey City. The financing was secured on behalf of the borrower, The Hekemian Group, with senior financing provided by Kennedy Wilson and mezzanine financing from Red Cove Capital. Financial terms of the deal were not disclosed.
Located at 305 Coles Street in historic Downtown Jersey City, the upcoming development is strategically positioned near the Grove Street and Newport PATH stations, offering residents easy access to New York City, including Midtown Manhattan and Hudson Yards.
“The successful arrangement of this financing underscores confidence in the NJ Waterfront and affirms the quality of this luxury development led by The Hekemian Group,” said Thomas E. Didio, Jr., Managing Director at JLL. “305 Coles is poised to meet the growing demand for high-end rentals in this thriving submarket.”
The JLL Capital Markets team behind the deal included Senior Managing Director Thomas Didio, Managing Director Thomas E. Didio, Jr., Director Gerard Quinn, and Associate John Cumming.
