Kushner Secures $258m financing against Jersey City apartment project

Kushner Real Estate Group has secured $258 million of financing against the Journal Squared apartment project at 615 Pavonia Ave. in Jersey City, N.J.

Wells Fargo and Capital One provided the loan.

The funding will be used for Tower Two at Journal Squared, a mixed-use project comprised of three buildings with 1,840 rental units in total. Tower Two will stand 71 stories tall, with 704 residences, and is slated to open in 2021.

Tower One of the project was completed in 2017. The 53-story building has 538 units.