Investors secure $42.5m for RIVET project in Jersey City

The Hampshire Companies, the Claremont Companies and Circle Squared Alternative Investments secured a $42.5m loan for a mixed-use development in New Jersey. Located in Jersey City’s University Place neighborhood, the RIVET property features 163 housing units and approximately 10,000 sq ft of retail space. Retail tenants include Five Guys, Carvel and University Place Pharmacy. JLL Capital Markets advised the development partnership on refinancing the existing construction financing for the project, which was completed in 2017.