M&T Realty and BlueGate Partners provides $63 million in financing for a multifamily property in Jersey City

 

 

Jersey City, NJ M&T Realty Capital Corporation and BlueGate Partners placed a $63 million permanent loan secured by a newly built, 233-unit Class-A transit oriented multifamily property developed by Fields Grade Development. Kearny Bank provided a non-recourse, 10-year fixed rate term with a rate lock in Q1. John Taylor and Donna Falzarano of M&T Realty Capital Corporation partnered with Mark DeLillo, Marc Schulder, Lee Spiegelman and Felipe Marin of BlueGate Partners on this execution.    

The Agnes is located on Jersey City’s west side and offers studio, one-bedroom, two-bedroom, three-bedroom as well as co-living, four-bedroom units. Amenities include outdoor courtyards, a pool, fire pits and grilling stations, as well as a fitness center, communal kitchen, multiple resident lounges, bike storage, package concierge and security parking.