Jersey City apartment complex

Multifamily | Jersey City, NJ

Acquisition financing for a six-story, 93-unit luxury residential building positioned within the expanding Bergen-Lafayette submarket of Jersey City, just 30 minutes from New York City

Investment highlights

  • This Class A+ apartment building features premium amenities including public transit only 0.2 miles away, 63 parking spaces, second floor terrace, rooftop deck, fitness center, bike storage and a virtual doorman.¹
  • The property is primely positioned for a 10- and 30-minute commute via public transportation to downtown Jersey City and lower Manhattan, respectively.
  • The abundance of public transportation is pivotal to the growth of the Bergen-Lafayette neighborhood.

Location

Investment details1

Total loan size
$20,500,000
Purpose
Acquisition financing
LTV
47%
Date of loan
12/19/19
Year built
2019
Square feet
93

  • Class A buildings represent the highest-quality buildings in their market and area. They are generally properties built within the last 15 years with top amenities, high-income tenants and low vacancy rates. Class A buildings are well-located in their market and are typically professionally managed.

  • FS Credit REIT is an illiquid product and it’s failure to qualify or remain qualified to be taxed as a REIT would adversely affect the NAV of its shares and the amount of cash available for distribution to stockholders.

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