REBusinessOnline

JLL Arranges $41M Acquisition Loan for Bela Apartments in Jersey City

JERSEY CITY, N.J.JLL has arranged a $41 million acquisition loan for Bela Apartments, a 104-unit luxury apartment building in Jersey City. Ares Commercial Real Estate Corp. provided the two-year, floating-rate loan to the borrower, Golden Glades Capital Management. Completed in 2019, the eight-story property features one- and two-bedroom apartments, a fitness center, yoga studio and approximately 2,600 square feet of ground-level retail. Thomas Didio and Matthew Pizzolato of JLL arranged the loan. Golden Glades acquired the property from a partnership between Alpine Development, Fields Development Group and Grade Development Co. in mid-March for $53.

Content Partners
‣ Bohler
‣ Lee & Associates
‣ Lument
‣ NAI Global
‣ Walker & Dunlop

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