Cushman & Wakefield Retained on an Exclusive Basis to Procure Up to $325M in Refinancing for The Beacon
Jayden Lapin-Tatman • 11/1/2022
Cushman & Wakefield’s John Alascio, Alex Hernandez, Alex Lapidus and Mitch Rothstein will be leading financing efforts on behalf of the borrower.
“The Beacon is an irreplaceable trophy asset in the heart of Jersey City with unparalleled views of the New Jersey Gold Coast and Manhattan,” said Alascio. “The Beacon’s unrivaled location coupled with highly experienced and committed sponsorship makes this a fantastic financing opportunity.”
The Beacon totals six-buildings comprising of 1,155 units on a 14-acre site. The property consists of a mix of studio, one-bedroom, two-bedroom and three-bedroom units. One of the largest residential historic rehabilitations in the United States, the gated community features fitness centers, a yoga studio, indoor pool and hot tub, restored Art Deco theaters, children’s playrooms, high-floor sky lounges, numerous dog runs, playground, a one-acre private park and substantial outdoor space with fire pits and grills.
Situated at the intersection of three of Jersey City’s most populated neighborhoods – Journal Square, McGinley Square and Bergen Lafayette – The Beacon is surrounded by an array of retail, dining and entertainment options. The property is located less than 10 minutes to Jersey City’s central business district via The Beacon’s complimentary shuttle service and allows for a 30-minute commute to Manhattan.
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 50,000 employees in over 400 offices and approximately 60 countries. In 2021, the firm had revenue of $9.4 billion across core services of property, facilities and project management, leasing, capital markets, and valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake External Link on Twitter.