KRE Group, National Real Estate Advisors Secure $210M Financing for Multifamily Tower in Jersey City
JERSEY CITY, N.J. — KRE Group and National Real Estate Advisors have secured $210 million in permanent financing for a 563-foot multifamily tower at Journal Squared, a mixed-use development in Jersey City’s Journal Square neighborhood. American International Group provided the financing with Meridian Capital Group serving as broker in the transaction. The 53-story building is the first phase of the planned three-building, mixed-use development. When completed, Journal Squared will consist of 36,000 square feet of retail and restaurant space as well as 1,840 residential units. KRE and National broke ground on the project’s second tower this spring, which will top out at 70 stories.