Affinius Capital and Kennedy Wilson have closed financing for the ground-up development of Harborside 8, a multifamily project located on the waterfront in Jersey City, N.J. The capitalization includes $78 million of preferred equity provided by Affinius Capital and a $306 million senior loan originated by Kennedy Wilson. The property is being developed by Panepinto Properties on one of the last prime undeveloped sites on the Jersey City waterfront.
“Harborside 8 will address the significant demand for premium multifamily housing in one of the region’s most dynamic and fastest-growing markets. Panepinto Properties brings proven execution capabilities and extensive New Jersey market knowledge, critical advantages for a development of this scale in Jersey City,” said David Greenberg, Affinius Capital’s managing director and co-head of credit originations.
Thomas Whitesell, head of Kennedy Wilson’s debt investment group, said, “Harborside 8 aligns with our te
