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**Walker & Dunlop Arranges $220M Bridge Loan for Jersey City Multifamily Project**
Walker & Dunlop, Inc. has successfully arranged a $220 million bridge loan to refinance 626 Newark Avenue, a recently completed 576-unit Class A mixed-use multifamily development located in Jersey City’s Journal Square neighborhood.
The financing was secured on behalf of Namdar Group, with capital provided by TYKO. The New York Capital Markets team from Walker & Dunlop, led by Aaron Appel, Keith Kurland, Jonathan Schwartz, Adam Schwartz, Dustin Stolly, Sean Reimer, Jordan Casella, Christopher de Raet, and Edward Leboyer, advised on the transaction.
“We are glad to have helped structure a solution that aligns with Namdar Group’s goals for 626 Newark,” said Aaron Appel. “This transaction appropriately recapitalizes the indebtedness now that the project is built and provides reserves to support a successful lease-up, which is already exceeding underwritten expectations.”
Located just a two-minute walk from the Journal Square PATH station, 626 Newark offers residents direct, 10-minute transit access to Manhattan. The property benefits from its central location, connectivity to major highways and public transit, and more affordable rents compared to those in Manhattan and Brooklyn—factors that continue to attract residents from across the region.
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