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- Kennedy Wilson Secures $175M Loan for Jersey City's Artwalk Towers
Kennedy Wilson Secures $175M Loan for Jersey City's Artwalk Towers
Slice of Real Estate Team
November 18, 2024
Key Highlights:
Kennedy Wilson closes $175M senior construction loan for Artwalk Towers in Jersey City.
Artwalk Towers to feature 595 units with premier amenities like a sky lounge, co-working spaces, and PATH station access.
Project sponsor Kushner Real Estate Group has a proven track record in Journal Square development.
Loan celebrates Kennedy Wilson’s $4.1B construction loan portfolio anniversary, with $2.4B in originations to date.
Completion slated for Q4 2027.
Source: Business Wire
Notable Quote:
"We are excited to close on our first loan with the Kushner Real Estate Group, which has a proven track record of delivering top-tier projects that meet the needs of the area’s residents. The Artwalk Towers loan aligns with our strategy to support transformative multifamily developments in urban areas."
Our Take:
Kennedy Wilson continues to solidify its position as a leader in the multifamily and student housing debt markets with this $175 million Artwalk Towers loan. The project exemplifies strategic urban development with its prime location in Jersey City’s Journal Square and a host of high-demand amenities that cater to modern lifestyles. This milestone not only reinforces Kennedy Wilson’s $4.1 billion construction loan portfolio but also highlights its commitment to fostering transformative real estate projects.