JLL arranges $41M financing Jersey City's BELA.

Byline: Linda Lindner

JLL Capital Markets said Monday it arranged $41 million in financing for BELA, a luxury apartment community in Jersey City's Bergen-Lafayette neighborhood.

JLL worked on behalf of the borrower, Golden Glades Capital Management, to arrange the two-year, floating-rate loan that was provided by Ares Commercial Real Estate Corp.

Earlier this month, JLL announced it completed the sale of the building for $53 million to Golden Glades on behalf of the seller, a partnership between Alpine Development, Fields Development Group and Grade Development Co.

The newly developed, 104-unit building is located one block from Liberty State Park's Hudson-Bergen Light Rail station and less than one mile from Interstate 78, providing accessibility to the Hudson Waterfront, lower Manhattan.

Completed...