Greystone Capital Advisors Facilitates a Major Bridge Loan
Greystone, a prominent national real estate finance company, has efficiently arranged a substantial bridge loan of $285.7 million for Capodagli Property Company. This financing is aimed at refinancing an impressive portfolio of four Class A multifamily properties located in Northern New Jersey.
Portfolio Overview
The portfolio consists of over 1,000 residential units and approximately 30,000 square feet of retail space, strategically positioned in key transit-oriented submarkets. This array of properties underscores the ongoing demand for quality housing options in growing areas.
Details of the Properties
Here’s a closer look at the four properties included in the portfolio:
- Meridia Village Commons – 106 units located on Valley Street, South Orange, NJ.
- Meridia Pompton Lakes – 212 units situated on Wanaque Avenue, Pompton Lakes, NJ.
- Meridia Linden – 402 units found on West Elizabeth Avenue, Linden, NJ.
- Meridia Little Ferry – 294 units on Bergen Turnpike, Little Ferry, NJ.
Key Financial Highlights
This bridge loan, provided by PGIM, not only refinances existing senior debt but also provides additional capital for Capodagli to expand their operational capabilities. With Greystone Capital Advisors as their exclusive advisor for this transaction, the partnership has proven mutually beneficial.
Evolution of the Portfolio
Each property in this impressive portfolio was developed between 2022 and 2025, representing newly constructed, Class A multifamily communities. These properties are ideally situated in suburban markets that offer direct access to vital employment centers in New Jersey and the wider New York City metropolitan area.
Property Features
The multifamily homes are equipped with high-quality interior finishes and market-leading amenities. Furthermore, they benefit from favorable long-term PILOT agreements designed to improve operational efficiency, establishing robust public-private partnerships.
Insight from Leadership
“At Capodagli, we pride ourselves on having a growing pipeline of projects, and Greystone’s expertise has been pivotal in helping us navigate these opportunities effectively,” shared John Longo, Chief Investment Officer at Capodagli Property Company.
Drew Fletcher, President of Greystone Capital Advisors, commented, “This financing reflects the strong interest from institutional lenders in high-quality transitional multifamily opportunities. The customized financial structure enables significant equity recapture for the sponsors, enhancing capital efficiency and supporting the portfolio's long-term success.”
About Capodagli Property Company
Founded in 1970, Capodagli Property Company has established itself as a leading full-service real estate development, construction, and management firm. Its mission is to revitalize cities and towns through tailored business plans, maximizing the potential of underutilized lands. The company has successfully developed over 5,000 residential units and 200,000 square feet of commercial spaces, with more than 6,000 residential units currently in their development pipeline. Their mission statement, "Building on Belonging," highlights their commitment to fostering strong community relationships.
About Greystone
Greystone operates as a national leader in commercial real estate finance, specializing in multifamily and healthcare finance. The company has garnered a reputation for excellence, ranking among the top FHA, Fannie Mae, and Freddie Mac lenders. Their diverse range of services is provided via Greystone Servicing Company LLC, Greystone Funding Company LLC, and other affiliated entities.
Frequently Asked Questions
What is the purpose of the loan arranged by Greystone?
The loan is intended to refinance existing debt and provide additional capital to Capodagli Property Company for their multifamily portfolio.
How many properties are included in the loan agreement?
The loan covers four properties, all part of a Class A multifamily portfolio.
Who provided the bridge loan?
The bridge loan was provided by PGIM, a notable financial services firm.
What are the key features of the multifamily properties?
The properties feature high-quality finishes, modern amenities, and benefit from long-term financial agreements that support efficiency.
What is Capodagli's mission?
Capodagli is dedicated to transforming urban and suburban areas by maximizing the value of underutilized lands and fostering community development.
