May 27, 2022
BlueGate Partners and M&T Realty Capital Corporation Secure $63M Permanent Financing for The Agnes in Jersey City, NJ
Working on behalf of Fields Grade Development, BlueGate Partners and M&T Realty Capital Corporation have successfully secured $63M in permanent financing to repay M&T Bank’s construction loan for The Agnes, a 233-unit Class- A transit-oriented multifamily development, located on Jersey City’s West Side. The property consists of studio, one-bedroom, two-bedroom, three-bedroom units, as well as co-living four-bedroom units that feature private bedrooms in a fully-furnished shared suite with household essentials, cleaning service and on-site laundry. The property also features ground-floor retail space which is fully leased.
The Agnes is full of nicely-curated amenities such as two outdoor courtyards that contain a pool, fire pits, and grilling stations, as well as a fitness center, communal kitchen, multiple resident lounges, bike storage, package concierge, and secured parking.
The BlueGate team of Mark DeLillo, Marc Schulder, Lee Spiegelman and Felipe Marin, along with the M&T Realty Capital Team of John Taylor and Andy Roland, secured the financing on behalf of the ownership.