Business
JLL arranges $384M capitalization for Panepinto Properties & AJD Construction's newest waterfront multi-housing development
JLL's Capital Markets group announced today that it has secured $306 million in senior non-recourse construction financing and $78 million in preferred equity for the land purchase and vertical construction of Harborside 8, a 678-unit, luxury waterfront multi-housing development along the Hudson River Waterfront in Jersey City, New Jersey.
About this update from Jones Lang Lasalle Incorporated
[{"type":"text","content":"Harborside 8, a luxury high rise in Jersey City, lands $306M senior non-recourse financing and $78M preferred equity investment ","length":127,"tagName":"p"},{"type":"text","content":"MORRISTOWN, N.J., Dec. 16, 2025 /PRNewswire/ -- JLL's Capital Markets group announced today that it has secured $306 million in senior non-recourse construction financing and $78 million in preferred equity for the land purchase and vertical construction of Harborside 8, a 678-unit, luxury waterfront multi-housing development along the Hudson River Waterfront in Jersey City, New Jersey.","length":393,"tagName":"p"},{"type":"image","alt":"Harborside 8","displaySize":"","headline":null,"caption":"Harborside 8","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":277,"url":"https://media.zenfs.com/en/prnewswire.com/90d1a76965db08b72987649bd6129540"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/xQ0f.D0Dvzo01XjTAnTFIg--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTQ4ODtjZj13ZWJw/https://media.zenfs.com/en/prnewswire.com/90d1a76965db08b72987649bd6129540","width":400,"height":277}},"href":"https://mma.prnewswire.com/media/2846992/Harborside_8.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":"JLL represented the borrowers, Panepinto Properties and AJD Construction, in securing the floating-rate senior loan through Kennedy Wilson. JLL also arranged the preferred equity through Affinius Capital.","length":204,"tagName":"p"},{"type":"text","content":"Harborside 8, located at 242 Hudson St. in Jersey City's waterfront neighborhood, offers unparalleled access to Manhattan with a five-minute walk to the Exchange Place PATH station and Paulus Hook Ferry providing direct transportation across the Hudson River. The property sits in the East-Waterfront district of the Harsimus Cove Station Redevelopment Area, which promotes high-density development to create walkable, mixed-use neighborhoods.","length":447,"tagName":"p"},{"type":"text","content":"Jersey City's waterfront has experienced tremendous redevelopment over the past two decades, transforming abandoned rail yards and industrial buildings into luxurious residential towers and mixed-use projects. The area represents one of the largest and most successful waterfront redevelopment stories in the United States, offering residents exceptional value and con...