Namdar nabs $358M loan for two Jersey City projects

The Namdar Group landed a significant financing package for a pair of projects expected to deliver more than 1,100 units to Jersey City’s Journal Square neighborhood. Adi Chugh’s Tyko Capital provided $358 million in construction financing for Namdar’s projects at 29 Van Reipen Avenue and 612 Pavonia Avenue, the Commercial Observer reported. The debt should enable Namdar to start work on the two developments, which will carry a combined 1,126 units between them. The Van Reipen Avenue project will stand 27 stories tall, according to New York YIMBY, and include 696 units with 19,000 square feet of retail space and […] This article originally appeared on The Real Deal. Click here to read the full story.