Kushner Companies has received two loans totaling $415 million to pay for a redevelopment of the Monmouth Mall in Eatontown, NJ that will include new retail space and residential units.
The first funding of $303 million, managed by affiliates of Fortress Investment Group, will support 1,000 apartments. Of those, 125 will receive affordable housing designation.
The second part of the project will provide 990,000 square feet of retail space, headlined by a Whole Foods Market, which will take the place of the area Barnes & Noble is currently occupying. This portion will be supported by a $112.5 million retail loan from Rithm Capital, and its affiliate, GreenBarn Investment Group, will manage the debt.
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