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Kennedy Wilson Closes $175M Construction Loan for Jersey City Residential

Kennedy Wilson closed a $175-million senior construction loan for the development of Artwalk Towers, a 595-unit multifamily community in Jersey City’s Journal Square. The project’s sponsor is Kushner Real Estate Group, one of the most prolific developers in Journal Square.

Artwalk Towers will be a 49-story residential tower with a range of amenities, including an Art Walk connector to the Journal Square PATH station providing direct access to Manhattan. The project is expected to be completed in the fourth quarter of 2027.

“We are excited to close on our first loan with the Kushner Real Estate Group, which has a proven track record of delivering top-tier projects that meet the needs of the area’s residents,” said Thomas Whitesell, head of Kennedy Wilson’s Debt Investment Group. “This closing is a great way to celebrate the debt group’s one year anniversary at Kennedy Wilson, which has included more than $2.4 billion of originations to high-impact multifamily and student housing projects across the country.”

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https://www.connectcre.com/stories/kenne...uction-loan-for-jersey-city-residential/