Veris secures $135M refinance loan for Hudson County luxury residential apartments

Veris Residential has secured a $135 million refinance loan for the Capstone at Port Imperial, a luxury residential tower in West New York in Hudson County, according to a Thursday announcement from CBRE.

A CBRE Capital Markets Debt & Structured Finance team has arranged the loan with U.S. Bank. The financing will be used to complete the stabilization of the property’s multifamily component and the leasing of the 24,997 square feet of ground-floor retail space.

CBRE’s Michael Sherman, Shawn Rosenthal and Jake Salkovitz facilitated the loan on behalf of the sponsor.

“The rapid pace of lease-up at the Capstone at Port Imperial illustrates the demand for properties with large units, high-class amenities, an abundance of outdoor space and access to transportation to Manhattan,” Sherman said.

The Capstone at Port Imperial is a newly developed luxury residential building with views of the Hudson River and the Manhattan skyline.

Located at 17 Avenue at Port Imperial, the property offers a mix of 360 units, ranging in size from studios to four-bedroom homes. In addition, the Capstone at Port Imperial offers a full suite of amenities, prime ground floor retail and a 570-car covered public parking garage.

Delivered in January 2021, the building has a rooftop lounge, pool, and movie center, as well as an indoor and outdoor fitness studio and yoga/spin rooms.