Alpine Residential Lands $81M Refi for Jersey City Communities
The two properties came online recently.
Alpine Residential has obtained $81.2 million in refinancing for two Jersey City, N.J., luxury communities: the 169-unit Atlas and the 39-unit Starling. JLL originated two five-year, fixed-rate Freddie Mac loans, while JLL Real Estate Capital will service them.
Atlas is a Class A community that came online earlier this year. Alpine Residential, together with additional owner Fields Development, funded the construction with a $46.6 million loan originated by Bank OZK in June 2022, according to Yardi Matrix data.
Located at 270 Johnson St., the 24-story building is within 1 mile of downtown Jersey City and came online in September. The high-rise features studios and one- to three-bedroom floorplans, ranging between 458 and 1,211 square feet, as well as more than 9,000 square feet of retail space. A total of 11 units are reserved as affordable.
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Common-area amenities include a sky lounge, alfresco dining and seating area, fitness center, coworking space and private offices. The community also has a rooftop swimming pool and on-site café.
JLL Capital Market’s Debt & Equity Advisory Senior Managing Director Thomas Didio, Managing Director Thomas Didio Jr. and Senior Analyst Michael Mataras represented the borrower in the deals.
Two communities close to each other
The other property, Starling, came online last year at 66 Monitor St., and is within walking distance of Atlas. The six-story building comprises studio to three-bedroom layouts and is part of The Bergen Lafayette Collection, a mixed-use development that will comprise some 1,000 apartments across five properties, according to New York YIMBY.
The low-rise also has three units reserved as affordable. Common-area amenities consist of a rooftop lounge, golf simulator, package room, dog run and outdoor dining and seating area. The community also features a fitness center and coworking spaces, as well as on-site restaurants.
