Business
JLL secures $255M for luxury high-rise apartment building in Jersey City
JLL's Capital Markets group announced today that it has secured a $255 million refinancing for Journal Squared III, a newly constructed, 58-story luxury multifamily high-rise in the Journal Square neighborhood of Jersey City, New Jersey.
About this update from Jones Lang Lasalle Incorporated
[{"type":"text","content":"Refinancing arranged for Kushner Real Estate Group & National Real Estate Advisors' Journal Squared III in Hudson County","length":128,"tagName":"p"},{"type":"text","content":"MORRISTOWN, N.J., July 30, 2025 /PRNewswire/ -- JLL's Capital Markets group announced today that it has secured a $255 million refinancing for Journal Squared III, a newly constructed, 58-story luxury multifamily high-rise in the Journal Square neighborhood of Jersey City, New Jersey.","length":294,"tagName":"p"},{"type":"text","content":"JLL worked on behalf of the borrower, a joint-venture between Kushner Real Estate Group ("KRE") and National Real Estate Advisors, LLC ("NATIONAL"), in arranging the 12-year fixed-rate loan through Pacific Life.","length":231,"tagName":"p"},{"type":"text","content":"Journal Squared III, the third and final tower in the Journal Squared development, is located at 595 Pavonia Ave. and offers exceptional transit connectivity by sitting adjacent to the Journal Square PATH station, providing seamless access to Manhattan's Penn Station, the World Trade Center and Newark Penn Station.","length":320,"tagName":"p"},{"type":"text","content":"The luxury high-rise benefits from its strategic position in the rapidly developing Journal Square neighborhood, where the Port Authority's Journal Square Transportation Center redevelopment initiative and the Jersey City Municipal Council's Journal Square 2060 Redevelopment Plan are driving sustained growth by attracting retail, office, hotel, residential and entertainment venues to the area.","length":404,"tagName":"p"},{"type":"text","content":"Delivered in July 2024, Journal Squared III features 598 luxury apartment units, offering a diverse mix of studios, one-, two- and three-bedroom units, with an average size of 719 square feet. Residents enjoy sophisticated finishes including in-home Bosch washer/dryers, chef-inspired kitchens with GE stainless steel appliances, white quartz countertops, high-gloss cabinets and limestone oak plank flooring throughout. The property boasts an unparalleled 100,000 square feet of shared amenities across all three Journal Squared buildings, including multiple fitness centers, a boxing ring, recording studio, theater, multiple swimming pools, sky lounges with panoramic Manhattan views, outdoor spaces with BBQ g...