Affinius Capital Lends $177M for Multifamily Asset Buy in New Jersey, Yonkers
Joint venture between Lincoln Property Company, Saber-Hightower and Waterfall Asset Management secures debt as part of $450 million portfolio acquisition from National Resources
By Andrew Coen August 20, 2026 1:13 pm
reprints
A joint venture between Lincoln Property Company, Saber-Hightower and Waterfall Asset Management has sealed $177.25 million of acquisition financing for the purchase of two multifamily properties in the New York metropolitan area, Commercial Observer has learned.
Affinus Capital provided the debt package for the sponsorship’s purchase of the 262-unit Edgewater Harbor property in Edgewater, N.J., and the soon-to-be completed 147-unit Trilogy Lofts at Tuckahoe project in Yonkers, N.Y. The deal involved a $124 million loan for Edgewater Harbor and $53.4 million of acquisition debt for Trilogy Lofts.
The joint venture of Lincoln Property Company, Saber-Hightower and Waterfall Asset Management acquired both properties from National Resources as part of a $450 million acquisition of four tri-state region properties encompassing more than 4 million square feet, CO previously first reported.
“Edgewater and Trilogy Lofts represent a compelling opportunity to invest in high-quality, well-located multifamily assets in supply-constrained, transit-oriented submarkets with durable renter demand,” David Greenburg, managing director at Affinius Capital, said in a statement. “Waterfall Asset Management, Lincoln Property Company and Saber-Hightower bring institutional scale, local market expertise, and a proven track record of value-add execution that positions this portfolio for long-term performance.”
Cushman & Wakefield negotiated the financing with a team consisting of John Alascio, Alex Hernandez, Brad Domenico, Chuck Kohaut and Mitch Rothstein. C&W also represented the seller in the acquisition with a Northeast capital markets team of Andy Merin, Frank DiTommaso and Ryan Dowd.
Located at 45 River Road 6 miles from Midtown Manhattan, Edgewater Harbor features 60,500 square feet of retail space anchored by a Sprouts Farmers Market slated to open in 2027. Community amenities include fitness centers, rooftop decks, coworking space and an outdoor pool.
Trilogy Lofts at 1 Scarsdale Road, one block from the Tuckahoe Metro-North train station, features 97 apartments completed in April 2026 with another 50 units also planned. The property’s amenities include a fitness center, a golf simulator and coworking space.
Andrew Coen can be reached at acoen@commercialobserver.com.
