Walker & Dunlop has arranged a $245 million loan from TYKO Capital to facilitate the construction of The Greyson, a 28-story, 622-unit class-A mixed-use tower that will be located in Jersey City, N.J.
The Walker & Dunlop New York Capital Markets team acted as exclusive advisers to the client, Nasser Freres, and identified TYKO Capital, which is backed by Elliott Investment Management, as the lender. With the building already nearing top-off, the loan proceeds will fund the balance of costs to complete.
The property will rise on a 0.7-acre site in Journal Square, one of Jersey City’s most dynamic neighborhoods. The development will feature 389,720 rentable square feet of residential space, offering a diverse mix of studios, one-bedroom, one-bedroom + den, two-bedroom, and three-bedroom apartments. Additionally, the project includes 44,551 rentable square feet of office space and 2,965 rentable square feet of retail along the newly extended Homestead Avenue.
