JLL Arranges $340M Refinancing of Two Jersey City Apartment Buildings

JERSEY CITY, N.J. — JLL has arranged the $340 million refinancing of two Jersey City apartment buildings totaling 938 units. The 36- and 48-story buildings are known as 50 and 70 Columbus and were completed in 2007 and 2015, respectively. Both buildings feature studio, one-, two- and three-bedroom units with in-unit washers and dryers, walk-in closets, hardwood floors, stone countertops and stainless steel appliances. Amenities include a heated outdoor pool, fitness center, rooftop deck with grilling spaces and a courtyard. Thomas Didio, Thomas Didio, Jr., Gerard Quinn and Michael Mataras of JLL arranged the debt through Truist Financial Corp. on behalf of the owner, a joint venture between Ironstate Development Co. and Panepinto Properties.