JBA Equities and Agile Capital Partners arranged a $63.2M loan for Skyline Development and Vasco Ventures, according to a Wednesday announcement. The partnership secured the financing from Invictus Real Estate Partners to recapitalize the 91,000 square feet of remaining inventory at Solaia Condominiums, located at 8701 Churchill Road in North Bergen.
JBA Equities’ Jonathan Aghravi and Eli Terry, together with Agile Capital Partners’ President Noam Katz and colleague Michael Rothstein, arranged the debt.
“Skyline Development is an expert at developing luxury residential product with best-in-class amenities. They have years of experience on New Jersey’s Gold Coast,” Chris Pardo, managing partner of Invictus Real Estate Partners said.
“The transaction is a testament to Skyline Development’s reputation for building the best product on the market, and the execution prowess of everyone involved,” Katz said.
Located cliffside on the Hudson River waterfront, all of the 70 residences have water and Manhattan skyline views. In addition to the views, residents at the Solaia will enjoy comprehensive resort-style spa and wellness amenities. Solaia features a mix of one-, two-, and three-bedroom residences ranging between 860 and 1,900 square feet, with 107 parking spaces.
