PGIM Loans $83M to Refi 325-Unit New Jersey Apartment Complex
The deal concludes a broader $370 million cross-collaterized debt facility that financed a 1,340-unit apartment portfolio across the state
By Brian Pascus August 20, 2026 11:44 am
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The final piece to a 1,300-unit apartment portfolio refinancing has been sealed.
Commercial Observer can first report that Capodagli Property Company has secured $82.6 million to refinance Meridia Roselle Park 10, a 325-unit Class A multifamily complex in Roselle, N.J.
PGIM provided the debt, structured as a bridge loan, while Greystone Capital Advisors’ Drew Fletcher, Bryan Grover, Miryam Reinitz-Kops and Jesse Kopecky arranged the transaction.
The deal follows $287 million in cross-collateralized bridge financing PGIM had provided for four other Class A, multifamily assets in New Jersey throughout 2025.
In total, PGIM provided $369.5 million in debt for a 1,340-unit multifamily portfolio comprised of Meridia Village Commons at 209 Valley Street in South Orange, N.J.; Meridia Pompton Lakes at 61 Wanaque Avenue in Pompton Lakes, N.J.; Meridia Linden 1001 at 1001 West Elizabeth Avenue in Linden, N.J.; and Meridia Little Ferry at 110 Bergen Turnpike in Little Ferry, N.J.
Meridia Roselle Park 10 is at 10 West Westfield Avenue in Roselle Park, N.J., a suburb not far from Newark Liberty International Airport and 25 miles southwest of Times Square in Manhattan.
Greystone’s Fletcher said in a statement that by breaking the cross-collateralized structure into separate deals, Capodagli Property Company was able to refinance each asset “on consistent terms as each came online,” giving each deal flexibility to seek out permanent financing at its own rate.
“Completing this facility reflects the strength of our long-term relationship with Capodagli and PGIM’s continued conviction in their platform,” said Fletcher.
Brian Pascus can be reached at bpascus@commercialobsever.com.
