Rivet-23-Jersey-City

KeyBank Provides $75M Acquisition Loan for Jersey City Apartment Portfolio

by Taylor Williams

JERSEY CITY, N.J. — KeyBank has provided a $75 million bridge loan for the acquisition of a portfolio of two contiguous apartment buildings totaling 362 units in Jersey City. Known as the Rivet Portfolio, the properties include a 163-unit building with 9,580 square feet of retail space and a 199-unit building with 9,972 square feet of retail space. Both buildings house studio, one- and two-bedroom units and share 75,000 square feet of indoor and outdoor amenities, as well as parking. Alan Isenstadt and Joseph Tinti of KeyBank originated the financing on behalf of the owner, SMY Investments.

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