Funds managed by affiliates of Strategic Value Partners (SVP), One Investment Management (OneIM), RXR and Columbia Property Trust (CXP), announced the acquisition and recapitalization of Hudson House, an 829-unit luxury multifamily complex nearing completion in the Soho West neighborhood of Jersey City, N.J.
Construction on the first phase of Hudson House is complete and leased. The remaining two phases of the development will be completed following this transaction and are expected to be delivered this summer with move-ins beginning shortly thereafter.
The complex transaction included a refinancing of the existing senior mortgage with a new loan from affiliates of Apollo Global Management, which will help fund construction completion, lease-up and additional enhancements.
The Hudson House development includes three distinct components, each a vibrant addition to the Jersey City residential landscape.
The buildings feature large unit layouts averaging
