Oritani Bank and Meridian Capital Finance $18.4M Kushner Leonia MF Purchase

Lakeview Apartments, Leonia, NJ

LEONIA, NJ—Oritani Bank, in a deal brokered by Meridian Capital, is financing Kushner Companies acquisition of the 106-unit Lakeview multifamily complex in Leonia, NJ. The $18.4 million financing transaction follows Kushner’s purchase of the property last month from Home Properties . “We’re pleased to add Lakeview to our growing portfolio in supply-constrained markets,” says Jared Kushner , CEO of Kushner Cos. “Thanks to our partners on this refinancing – Oritani and Meridian – for making this such a smooth process. We’re looking forward to enhancing the quality of life for Lakeview residents and bolstering the property’s status in a sought-after location.” Lakeview Apartments is located on 6.64 acres in Leonia, along a tree-lined cul-de-sac at Lakeview Avenue , just off the New Jersey Turnpike and minutes from the George Washington Bridge.  Built in 1948, the property is situated adjacent to a bus stop providing express service directly into Manhattan.  The 99-percent-leased property has units averaging 575 square feet each and community amenities, including a fitness center, playground/picnic area, laundry facilities and garage parking.