Developers of a Jersey City multifamily property snagged fresh financing for their recently completed project. Ursa Development Group and Fields Grade landed a $150 million permanent loan from Truist Bank to refinance the Devan at 3 New York Avenue, the Commercial Observer reported. The financing was initially reported by Real Estate NJ, which did not note the identity of the lender. The financing replaces a $97 million construction loan issued by Pacific Western Bank in 2022. BlueGate Partners’ Mark DeLillo arranged the latest loan. Ursa and Fields Grade did not return requests for comment. Work on the 336-unit complex wrapped […]

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