JLL<\/a> worked on behalf of the borrower, Tower Management Service LP, to arrange a joint venture equity investment from Lakerock, forming a new partnership between the two firms.\u00a0JLL then represented the partnership in securing the $16.5 million, five-year, fixed-rate acquisition loan through RWC Lending.<\/p>\nDelivered in 2024, Jasmin Terrace II has eight stories of residential living within two- and three-bedroom apartment homes. Each unit features a private terrace, nine-foot ceilings, stainless steel appliances, quartz countertops, vinyl plank flooring and in-home laundry. Community amenities include a rooftop lounge with New York City skyline views, rooftop fitness center, fire pit and BBQ grills and garage parking.<\/p>\n
JLL\u2019s Capital Markets Debt Advisory team representing the borrower was led by Senior Managing Directors Thomas R. Didio and Thomas E. Didio Jr., Senior Director Gerard Quinn, Associate Michael Mataras and Senior Analyst Joseph Gruber.<\/p>\n
\u201cOur team\u2019s deep experience in Jersey City has given us a front-row seat to the market\u2019s remarkable evolution and strength,\u201d said Quinn. \u201cJasmin Terrace II is well-positioned to capitalize on the growing demand for luxury rental product in Bergen-Lafayette, and we\u2019re thrilled to have structured both the joint venture with Lakerock and the acquisition financing to support Tower\u2019s expansion into this dynamic market.\u201d<\/p>\n
Jasmin Terrace II is located at 412 Whiton St. in the emerging Bergen-Lafayette neighborhood of Jersey City. The property offers walkable access to Jersey City\u2019s light rail network, connecting to PATH trains and the ferry, plus proximity to Liberty State Park and a rapidly maturing retail and dining scene.<\/p>\n","protected":false},"excerpt":{"rendered":"Jasmin Terrace II in Jersey City. – JLL JLL Capital Markets announced Sept. 17 that it has arranged…\n","protected":false},"author":2,"featured_media":352363,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[131488,131489,11487,1505,32733,131490,9,11,10,131491],"class_list":["post-352362","post","type-post","status-publish","format-standard","has-post-thumbnail","category-new-york","tag-gerard-quinn","tag-jasmin-terrace-ii","tag-jersey-city","tag-jll","tag-jll-capital-markets","tag-lakerock","tag-new-york","tag-new-york-headlines","tag-new-york-news","tag-tower-management-service-lp"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/352362","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/comments?post=352362"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/352362\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media\/352363"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media?parent=352362"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/categories?post=352362"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/tags?post=352362"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}