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JERSEY CITY, N.J. — Newmark has arranged a $515 million loan for the refinancing of Phase I of The Journal, a 966-unit apartment building in Jersey City. The newly constructed building is part of a larger, $1 billion development that will feature two 63-story towers with a combined 1,723 units. The Journal also includes a 983-space parking garage, 45,000 square feet of amenity space and 40,000 square feet of retail space that is fully leased to Target. Jordan Roeschlaub, Nick Scribani and John Caraviello of Newmark arranged the loan through Blackstone on behalf of the developer, Kushner Cos.