Greystone, a leading national commercial real estate finance company, announced that it has arranged a $285.7 million bridge loan on behalf of Capodagli Property Company (“Capodagli”) to refinance a four-property Class A multifamily portfolio across Northern New Jersey.
The four-property portfolio is comprised of more than 1,000 residential units and 30,000 square feet of retail space in prime, transit-oriented submarkets:
- Meridia Village Commons – 106 units, 209 Valley Street, South Orange, NJ 07079
- Meridia Pompton Lakes – 212 units, 261 Wanaque Avenue, Pompton Lakes, NJ 07442
- Meridia Linden – 402 units, 1001 West Elizabeth Avenue, Linden, NJ 07036
- Meridia Little Ferry – 294 units, 110 Bergen Turnpike, Little Ferry, NJ 07643
The loan was provided by PGIM and refinances existing senior debt while returning additional capital to the sponsor. Greystone Capital Advisors served as exclusive advisor on the transaction.
The properties were delivered between 2022 and 2025 and represent newly built; Class A multifamily communities strategically located in suburban markets with direct access to major employment centers in New Jersey and the greater New York City metro area. Each property offers high-quality interior finishes, market-leading amenities, and benefits from long-term PILOT agreements that enhance operational efficiency while fostering strong public-private partnerships.
“At CPC, we have a robust and growing pipeline of projects, and Greystone’s expertise has been instrumental in helping us efficiently execute on these opportunities,” said John Longo, Chief Investment Officer at Capodagli.
“This financing highlights the strong demand from institutional lenders for high-quality transitional multifamily opportunities,” said Drew Fletcher, President of Greystone Capital Advisors. “The tailored structure delivers significant equity recapture for the sponsors while enhancing their capital efficiency and supporting the portfolio’s long-term performance. We are grateful to our client, Capodagli Property Company, for their continued partnership and to PGIM for delivering such a strong execution on this transaction.”
Greystone is a private national commercial real estate finance company with an established reputation as a leader in multifamily and healthcare finance, having ranked as a top FHA, Fannie Mae, and Freddie Mac lender in these sectors. Loans are offered through Greystone Servicing Company LLC, Greystone Funding Company LLC and/or other Greystone affiliates.
