Hoboken housing development secures $155M for construction

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Following the start to work at Hoboken Connect on multifamily housing development Charlie, JLL announced securing construction financing for the project. JLL Capital Markets said Feb.

3 it arranged a $155 million five-year, floating-rate loan on behalf of the borrower, LCOR Inc., from insurance accounts managed by KKR.

The developer celebrated the long-awaited start to work on the 386-unit multifamily development at the end of January. JLL Senior Managing Directors Jon Mikula and Jim Cadranell as well as Vice President Michael Lachs comprised the Debt Advisory team representing the borrower.

Located adjacent to the NJ Transit Hoboken Terminal, the transit-oriented Hoboken Connect project will reimagine the area. In addition to the apartments, the mixed-use development’s plans features new office space as […].



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