Kushner, Extell, Close $180M Financing for Pier Village

LONG BRANCH, NJ–Kushner Companies and its partner Extell Development Company have closed on two phases of financing in conjunction with their $180 million purchase of Pier Village in Long Branch, NJ.

Kushner and Extell acquired Pier Village for $180 million in a transaction that closed in two phases over the last quarter of 2014. The first phase involved financing provided by Capital One, which provided bridge financing in November 2014. Then, in mid-December, the bank also originated and closed a $97 million long-term fixed rate financing from Fannie Mae to take out the acquisition loan that it provided a month earlier. Both Capital One financings were arranged by Meridian Capital Group.