JLL Arranges $109.5M Multifamily Refinancing for Riello Edgewater in New Jersey

JLL has arranged a $109.5 million refinancing for Riello Edgewater, a 226-unit, 272,191-square-foot Class A high-rise multifamily community located on the Hudson River waterfront in Edgewater, New Jersey, the firm announced May 1, 2026.

JLL represented the sponsors, Skylight Real Estate Partners and Pacific Coast Capital Partners, in arranging the three-year, floating-rate loan through MF1 Capital, LLC. The property is located at 99 Gorge Rd. along New Jersey's Gold Coast.

Property Details

Riello Edgewater offers one-, two-, three- and four-bedroom floor plans averaging 1,139 square feet, along with multi-level penthouse suites. Select layouts include dedicated home office space and wraparound balconies with views of the Manhattan skyline and Hudson River. The property includes 341 parking spaces.

The community has recently undergone upgrades to its common areas, including the lobby, corridors, fitness center, sauna, golf simulator, resident party room and outdoor lounge. The property is positioned to serve renters seeking larger, higher-quality units with access to Manhattan via the George Washington Bridge, Lincoln Tunnel and public transit options.

Edgewater has transitioned from an industrial past into a residential submarket along New Jersey's Gold Coast, characterized by waterfront dining, upscale retail and luxury residential development.

Transaction Structure and Lender Profile

The refinancing was structured as a three-year, floating-rate loan arranged through MF1 Capital, LLC, a multifamily lending platform led by professionals from Limekiln Real Estate and Berkshire Residential Investments. MF1 Capital describes itself as the largest provider of multifamily bridge capital in the industry, having executed more than $30 billion in financings since its inception.

JLL Capital Markets, which has more than 3,000 specialists in nearly 50 countries, provided debt advisory services on the transaction. JLL (NYSE: JLL) reported annual revenue of $26.1 billion and a global workforce of more than 113,000 as of March 31, 2026.

Sponsor Profiles: Skylight Real Estate Partners and PCCP

Skylight Real Estate Partners is a privately held real estate investment and development firm focused on the acquisition, development and operation of properties in New York City and other major East Coast markets. The firm specializes in acquiring and repositioning assets in supply-constrained markets. Its noted New Jersey investments include Infinity Edgewater, a 100-unit mid-rise multifamily property, and Hudson Lights, a 276-unit multifamily community in Fort Lee.

PCCP is a real estate finance and investment management firm focused on commercial real estate debt and equity investments. The firm reported approximately $29.2 billion in assets under management on behalf of institutional investors as of September 30, 2025, and has managed, raised or invested more than $46.6 billion of capital since its inception in 1998. PCCP maintains offices in New York, San Francisco, Atlanta and Los Angeles.