Lions Group has received roughly $200 million in structured capitalization and a forward Freddie Mac commitment for Homestead Gateway, a 34-story mixed-income residential tower that will deliver the first affordable housing units to Jersey City, N.J.’s Journal Square neighborhood in years.
JLL Capital Markets advised Lions Group.
The Urban Investment Group at Goldman Sachs Alternatives provided a bespoke, multi-tranche capital solution of nearly $200 million to the project, including a construction loan, bridge facility, Low-Income Housing Tax Credit (LIHTC) equity and Aspire tax credit purchase. The financing package also includes a forward Freddie Mac commitment arranged by JLL Real Estate Capital. Located at 701 Newark Ave., the 360-unit development will transform a former municipal parking lot into a modern residential community featuring 90 affordable housing units alongside market-rate apartments.
Homestead Gateway addresses critical housing needs while
