Working on behalf of Fields Grade Development, BlueGate Partners and M&T Realty Capital Corp. said they successfully secured $63 million 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 and 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 boasts numerous 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.