Jersey City, NJ — Tulfra Real Estate, a Rochelle Park, New Jersey-based real estate and development company, announced the closing of a loan to fund construction of Liberty Storage Center, a six-story, 795-unit self-storage facility located at 300 Thomas McGovern Dr. in Jersey City. The project will be managed by Public Storage.
The loan to TFJ Jersey City LLC was secured by JLL Capital Markets. Michael Klein and Jon Mikula, of JLL represented Tulfra on the transaction. Jeff Wallace and John Lipiros represented the lender, Fulton Bank. Mitchell Berkey and Joseph Zawila of CSG Law represented the borrower.
When completed, the six-story 103,500 s/f, fully climate-controlled facility will be the first of three phases totaling 260,000 s/f. Site work and construction has begun on the first phase of Liberty Storage Center.
The new Liberty Storage Center is
• 1-mile from Exchange Place and the PATH station in Jersey City.
• 20-minutes from Lower Manhattan.
• 30-minutes from Downtown Brooklyn.
• Adjacent to Liberty State Park.
• Midtown Manhattan via the Holland or Lincoln tunnels
Tulfra has developed 1,000,000 s/f of self-storage facilities in a dozen locations throughout northern New Jersey.
Tulfra has worked closely with city and state agencies for five years, to secure the proper permits to transform a former concrete plant into a class A storage facility.
Tulfra Real Estate announced the closing of a permanent loan for The Delford at Village Center, a 160-unit luxury rental community.
Fully-leased in record-setting time, The Delford has already proven to be one of the most successful rental projects in Bergen County.
The fixed-rate loan was secured by JLL Capital Markets through Nuveen Real Estate. Representing JLL in the deal were Vice President Ryan Carroll, Klein and Mikula.