Tulfra Real Estate, a Rochelle Park-based real estate and development company, on Tuesday announced the closing of a loan to fund construction of Liberty Storage Center, a six-story, 795-unit self-storage facility located at 300 Thomas McGovern Drive in Jersey City.
Tulfra has worked closely with city and state agencies for 5 years, to secure the proper permits to transform a former concrete plant into a Class A storage facility.
The loan to TFJ Jersey City LLC was secured by JLL Capital Markets. Michael Klein and Jon Mikula, of JLL represented Tulfra on the transaction. Jeff Wallace and John Lipiros represented the lender, Fulton Bank. Mitchell Berkey and Joseph Zawila of CSG Law represented the borrower.
When completed, the 103,500-square-foot, fully climate-controlled facility will be the first of three phases totaling 260,000 square feet. Site work and construction has begun on the first phase of Liberty Storage Center.
The project will be managed by Public Storage.
