MORRISTOWN, N.J., Dec. 15, 2025 –  JLL Capital Markets announced today that it has arranged a $71.96 million refinancing for The Hazel, a 201-unit luxury apartment community in Jersey City, New Jersey.

JLL represented the borrower, Alpine Residential, in securing a five-year, fixed-rate balance sheet loan through Truist Bank.

The Hazel, located at 89 Monitor St., sits directly adjacent to the Liberty State Park Light Rail station offering convenient transportation access to Manhattan. The property is positioned approximately 1.20 miles from the Grove Street PATH station and 1.60 miles from the Exchange Place PATH station, providing residents access to New York City's Penn Station and World Trade Center in under 30 minutes.

Jersey City continues to benefit from the office tenant migration from Midtown Manhattan to Hudson Yards and the west side of Manhattan, driving demand for multifamily housing. The Jersey City Waterfront Multifamily Submarket has absorbed 10,920 units since 2018 while average asking rents increased 28% from $3,400 to $4,350 during that period.

The Hazel was developed in two phases, with Phase I containing 114 units delivered in early 2022 and Phase II containing 87 units completed in late 2024. The seven-story mid-rise community features 190 market-rate and 11 affordable units with average unit sizes of 747 square feet. The property offers a mix of studios, one- and two-bedroom units, all finished with luxury plank flooring, quartz countertops, stainless-steel kitchen appliances, in-unit washers and dryers and nine-foot ceilings.

Residents enjoy best-in-class amenities including a sky lounge with sweeping views of New York Harbor, rooftop pool, outdoor mist station, state-of-the-art fitness center, co-working space and secured package room. The property also contains approximately 9,588 square feet of commercial space across four suites housing a delicatessen, fitness professional, childcare provider and package service.

JLL Capital Market’s Debt Advisory team was led by Senior Managing Director Thomas Didio, Managing Director Thomas E. Didio Jr., Associate Michael Mataras and Analyst Tyler Caricato.

"The successful refinancing of The Hazel demonstrates the continued strength of the Jersey City multifamily market," said Didio, Jr. "The property's strategic location near Liberty State Park and excellent transit connectivity to Manhattan make it an exceptional investment in one of New Jersey's most dynamic markets."

“This transaction highlights Truist’s focus on providing financing solutions that meet the needs of our Northeast clients,” said Rebecca M. Cox, Senior Vice President & Market Manager at Truist National Real Estate. “With leadership from Katie Kennedy, our team delivered a solution that supports our client and affirms our confidence in markets with outstanding access to Manhattan, like Jersey City.”

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500 company with annual revenue of $23.4 billion and operations in over 80 countries around the world, our more than 112,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAY^SM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.

Alpine Residential, a partnership between Beachwold Residential and Alpine Real Estate Group, has developed approximately 500 units, including Atlas, The Hazel, Starling, and BELA. The sponsor is also behind the large-scale repositioning of the Liberty Science Center into Scholars Village, a mixed-use development containing 500 multifamily units.

Truist Financial Corporation is a purpose-driven financial services company committed to inspiring and building better lives and communities. Headquartered in Charlotte, North Carolina, Truist has leading market share in many of the high-growth markets in the U.S. and offers a wide range of products and services through wholesale and consumer businesses, including consumer and small business banking, commercial and corporate banking, investment banking and capital markets, wealth management, payments, and specialized lending businesses. Truist is a top-10 commercial bank with total assets of $544 billion as of Sept. 30, 2025. Truist Bank, Member FDIC. Equal Housing Lender. Learn more at Truist.com.