JLL's Capital Markets group, in conjunction with BlueGate Partners, announced that it has arranged a $340 million refinancing for 50 & 70 Columbus, a 938-unit mixed-use property located in Jersey City, N.J.
JLL and BlueGate represented the borrower, a joint venture between Ironstate Development Co. and Panepinto Properties, in securing the balance sheet loans through Truist Financial Corp., which served as administrative agent and sole bookrunner on the transaction.
Constructed in 2007 and 2015, respectively, 50 & 70 Columbus are high-rise residential towers spanning 36 and 48 stories. The communities feature studios and one-, two- and three-bedroom units with luxury finishes, including in-unit washers and dryers, walk-in closets, hardwood floors, stone countertops, and stainless-steel kitchen appliances. Large windows provide abundant natural lighting and scenic views of the Hudson River and New York City skyline.
Residents enjoy best-in-class amenities
