BHI, a full-service commercial bank, announced that its Commercial Real Estate Group has provided $36 million in construction financing to EPIRE for the development of 144 First Street, the firm’s new condominium development located in the Powerhouse Arts District of Jersey City, New Jersey.
Spanning 115,000 square feet, 144 First Street will feature 84 high-end apartments and is conveniently situated two blocks away from the PATH train.
“We are very pleased to be working with EPIRE, which has a highly successful track record in both the residential and commercial sectors. As part of our strategy we finance large projects in key locations and plan to continue the growth in 2022,” said Ilana Druyan, First Vice President, Real Estate International at BHI.
“We wish to extend our special thanks to BHI’s Commercial Real Estate team for partnering with us on this transaction, and for their continuing support of our firm,” said Alessandro Bonati, CEO & Founder of EPIRE.