Triangle Equities Secures $134M Recapitalization Financing for Mixed-Use Development in East Orange

Triangle Equities and Incline Capital have secured nearly $134 million in recapitalization financing for The Crossings at Brick Church Station, a mixed-use development in downtown East Orange, New Jersey. The financing supports Phase 1a of the development, which features 400 new apartments and retail space anchored by ShopRite adjacent to NJ Transit's Brick Church Station.

Transit-Oriented Development Advances

This milestone advances the first phase of a project poised to deliver roughly 1,000 homes and more than 200,000 square feet of retail and community space across multiple phases. Leasing is currently underway for the 400 apartments and retail space in Phase 1a.

The Crossings at Brick Church Station is located at 533 Main Street in East Orange. Phase 1a encompasses 375,000 square feet total. Current tenants include ShopRite, Newark Community Health Center, Dunkin', Ashley Stewart, Rita's Italian Ice, and Angel Nails.

Mixed-Use Development With Transit Access

The development benefits from its proximity to NJ Transit's Brick Church Station. The full master plan targets approximately 1,000 residential units across all phases.

The recapitalization financing involved Triangle Equities and Incline Capital as development partners. The transaction addresses the project's transition as leasing activities are underway.

According to the announcement, Josh Weingarten, Executive Vice President at Triangle Equities, commented on investment in East Orange delivering housing, retail, and jobs. Walker Smith of Affordable Equity Partners noted the financing supports revitalization of downtown East Orange.