jersey city portfolio - teaser and ca
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7/27/2019 Jersey City Portfolio - Teaser and CA
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JERSEY CITY APARTMENT PORTFOLIO1100 UNIT TROPHY INVESTMENT OPPORTUNITY
THE OFFERING
Savills LLC (Savills) has been retained by affiliates of Kushner Real Estate Group (KRE Group or KRE)
and Ironstate Development (Ironstate), collectively the Sponsor, as exclusive financial advisor for the
Jersey City Multifamily Portfolio.
The Jersey City Multifamily Portfolio consists of two Class A luxury multifamily assets - 18 Park Avenue and
Grand & Grove (individually the Property, collectively the Properties or the Portfolio). The Properties
are located in downtown Jersey City, a thriving transit-oriented extension of Manhattan and one of the
most desirable apartment markets in the nation. Positioned on the bank of the Hudson
River directly across from Manhattan, Jersey City offers an urban, commuter-friendly
lifestyle for its residents and provides access to New York City in less than fifteen minutes
through a variety of convenient transportation options.
Exclusively Offered By
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INVESTMENT HIGHLIGHTS
The Portfolio is comprised of 1,102, new construction Class A apartment units with 750,000 rsf, 570 enclosed parking
spaces and approximately 16,000 rsf of retail space located in one of the nations strongest markets. A prime
location, exceptional sponsorship, trophy quality and substantial scale make the investment one of the most
attractive opportunities in the country. 18 Park is a midrise building with 422 units currently under construction with
initial TCO scheduled for February 2014. Grand & Grove is a fully entitled 680 unit high-rise apartment building
scheduled to commence construction in June 2014 and receive its initial TCO in April 2016. The Portfolio rep
resents an extremely rare opportunity to invest with a best-in-class sponsor in a 1,102 unit trophy portfolio of newconstruction apartment units in one of the nations top markets. The Sponsors are seeking to form a joint venture
for the Portfolio with a qualified institutional investor(s).
RARE OPPORTUNITY TO INVEST IN AN 1,100 UNIT TROPHY GOLD COAST APARTMENT PORTFOLIO: With comparable
Gold Coast multifamily assets rarely trading, the Jersey City Portfolio represents a unique opportunity to inves
in the highly sought after Jersey City apartment market. The Portfolio includes: 18 Park, with 422 units currently
under construction with initial TCO expected in February 2014, and Grand & Grove, a fully entitled develop-
ment with 680 units scheduled for a June 2014 construction start.
PROVEN, INSTITUTIONAL QUALITY SPONSOR
SHIP: Sponsors KRE Group and Ironstate
have established a strong track record fo
excellence in large-scale multifamily de
velopments in the New Jersey Gold Coast
market. KRE has over 30 years of experi
ence in New Jersey real estate and cur-
rently owns over 10,000 apartments o
which approximately 5,000 are managed
out of their headquarters in New Jersey
Additionally, KRE has over 5,000 apart-
ments in different stages of approval and
design and 1,000 units currently unde
construction in NY, NJ, and PA. Ironstate
has developed over 10,000 units in the re
gion and is one of Hudson Countys
largest residential owners. On a com
bined basis, KRE and Ironstates track
record and capabilities are unmatched
in the region and provide proven, institu-
tional quality sponsorship.
JERSEY CITY APARTMENT PORTFOLIO SUMMARY
18 PARK GRAND & GROVE TOTAL
Multifamily Units 422 680 1,102
Multifamily Rentable Square Feet 309,439 440,795 750,234
Retail Rentable Square Feet 10,549 5,995 16,554
Parking 230 spaces 340 spaces 570 spaces
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INVESTMENT HIGHLIGHTS (Continued)
EXCEPTIONAL NEW YORK METRO LOCATION: With extremely easy
access to Manhattan, the Jersey City market has emerged over
the last 15 years as one of the most vibrant residential and com-
mercial districts in the country. Residents are drawn to the area
due to the more affordable housing options relative to the Man-
hattan market as well as the extremely convenient transporta-
tion options for commuters.
HIGHLY FAVORABLE MARKET FUNDAMENTALS: With a strong em-
ployment base located in Manhattan and downtown Jersey
City alongside a wealthy demographic renter profile, the local
market exhibits some of the strongest fundamentals in the na-
tion. Further, the New York Metros sustained housing shortage
will continue to suppress Jersey Citys historically low vacancy
rates while creating additional support for strong rent growth
and absorption.
TOP QUALITY DESIGN AND AMENITIES: The Properties were de-
signed by the internationally recognized architectural and plan-
ning firms HLW International, Hollwich Kushner (HWKN), and
Minno & Wasko. Upon completion, the Properties will feature a full array of luxury amenities, comparable
to the highest end rental properties in New Jerseys Gold Coast region, including a swimming pool, fitness
center, residents lounge, childrens play area, and business center. All apartment units will feature hard
wood flooring, quartz or stone countertops, and stainless steel appliance packages.
OUTSTANDING DEMOGRAPHICS: With
over 70% of total households already
occupied by renters and an esti
mated 30,000 new units required to
meet demand in NYC/Jersey City ove
the next four years, the outlook for the
Jersey City rental market is incredibly
strong. The Jersey City market is fur
ther bolstered by young members o
Gen-Y moving to the New York Metro
who are priced out of Manhattan
rentals and seek luxury apartments in
transportation-friendly neighboring
markets as an affordable alternative.
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18 Park
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JEFFREY W. BAKER GRAHAM M. HOBBS BENJAMIN J. KANNEExecutive Managing Director Senior Vice President Associate
jwbaker@savills.com ghobbs@savills.com bkanne@savills.com
212.328.3941 212.328.3952 212.328.3963
599 Lexington Avenue, 36th Floor, New York, NY 10022 T: 212.328.2800 F: 212.328.2828
18 Park Avenue
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CONFIDENTIALITYAGREEMENT
THE JERSEY CITY PORTFOLIO,NEW JERSEY
Savills LLC (Savills) has been retained by Grand LHN I Urban Renewal LLC, Grand LHN III Urban Renewal
LLC and Grand LHN IV Urban Renewal LLC (collectively the Company), as its exclusive financial advisor to
arrange joint venture equity and debt capital for the recapitalization of 18 Park Avenue, a 422 unit apartmentbuilding currently under construction, and Grand & Grove, a 680 unit multifamily development, located in Jersey
City, New Jersey (the Project orthe Property).
Savills and the Company have and are prepared to make available to the Undersigned certain information concerning
the Project and the Company, subject to the terms and conditions set forth below and any limiting conditions set forth
in the Confidential Information (as hereinafter defined). As used in this Agreement, Confidential Information
means (i) any information regarding the Company or the Project set forth in the Confidential Information
Memorandum, (ii) negotiations or discussions with Savills or the Company regarding the Project, (iii) that the
Company may be considering the Project, and (iv) and such other information that Savills or the Company delivers to
the Undersigned regarding the Company or the Project. The term Confidential Information will not, however,
include information which is or becomes publicly available other than as a result of a disclosure by the Undersigned
(as hereinafter defined), or any affiliate or representative of the Undersigned, or any third party, such as a law,
accounting, engineering or environmental review firm, engaged by the Undersigned to assist the Undersigned in its
consideration and underwriting of the Project or consummation of a transaction involving the Project (aTransaction).
All Confidential Information provided to the Undersigned by or through Savills or the Company is subject to the
following conditions:
1. All Confidential Information shall continue to be the property of the Company.2. The Confidential Information (a) will be used solely in connection with the Undersigneds evaluation of
the Project or the consummation of a Transaction and for no other reason, and (b) may not be otherwise
copied or duplicated. The Confidential Information must be returned to Savills or at the Companys
option destroyed immediately upon request, except that the Undersigned may retain a copy in its files if
regulatory requirements require it to do so.
3. The Confidential Information may only be disclosed to the Undersigneds officers, employees, legalcounsel, accountants, and other third party firms (such as engineering and environmental review firms)
engaged by the Undersigned in connection with the evaluation of the Project or consummation of aTransaction (Related Parties), and only (a) for the purpose of assisting in the evaluation of the Project
or consummation of a Transaction, and (b) upon such Related Parties being instructed by the
Undersigned to keep such information confidential in accordance with the terms of this agreement. All
Confidential Information will be kept strictly confidential and the Undersigned will not (except as
required by applicable law, regulation or legal process), without the Companys prior written consent,
disclose any Confidential Information in any manner except as set forth in this Agreement.
4. Notwithstanding the foregoing, if the Undersigned or any of the Related Parties are required to discloseany of the Confidential Information in any judicial, administrative or other similar process, the
Undersigned or its Related Parties may disclose such information to the requesting party, provided it or
they give the Company prompt written notice of such request and disclosure. The Undersigned will
provide the Company with prompt written notice of each such request so that the Company may seek a
protective order or other appropriate remedy and/or waiver in compliance with the provisions of this
Confidentiality Agreement.
5. Neither the Undersigned nor the Related Parties will, without the prior written approval of theCompany, contact any of the Companys employees, any employees of any firm engaged by theCompany in connection with the Project, any tenants of the Companys existing properties, or any
governmental officials (including officials of all state, local and federal bodies) regarding the Project.
6. The Undersigned understands and acknowledges that (a) the Confidential Information is being providedfor information purposes only, (b) the information contained therein has not been independently
verified by Savills, and (c) neither the Company nor Savills make any representation, warranty or
guaranty as to the accuracy or completeness of the Confidential Information.
7. The Undersigned understands and acknowledges that the Confidential Information contains onlyselected information and does not purport to be all-inclusive or contain all information that may be
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Confidentiality Agreement
The Jersey City Portfolio
Page 2required by a prospective investor considering a Transaction, and is not intended as a substitute for
independent due diligence and analysis by the Undersigned.
8. The Undersigned specifically agrees to rely on its own due diligence, including without limitation itsown due diligence investigations of the Company and of all physical, environmental, market and
financial matters pertaining to the Project, in connection with any decision by the Undersigned to
consummate a Transaction.9. The Undersigned acknowledges that neither the Company nor Savills has any responsibility to update
the Confidential Information.
10. The Undersigned represents that it is a principal and will not look to the Company or Savills for anyfee, commission or other compensation relating to the Project. The Undersigned also hereby
acknowledges that it has not dealt with any broker, other than Savills, regarding a Transaction.
11. The Undersigned acknowledges that the Project is subject to withdrawal from the market, priorplacement or rejection of any proposal for any reason whatsoever, or for no reason, without notice.
12. This agreement shall terminate one (1) year from the date hereof except as to written claims by theCompany against the Undersigned prior thereto.
13. This agreement shall be governed by, and construed in accordance with, the laws of the State of NewJersey.
14. The term Undersigned shall include (a) the individual named below, (b) the entity named below, (c)any entity which such named entity owns or controls, (d) any entity that owns or controls the entity
named below, and (e) any entity that is under common ownership or control with the entity namedbelow.
Please indicate your acceptance of these terms by signing and returning one original copy of this agreement to
Savills LLC, Attention: Ben Kanne, 599 Lexington Avenue, 36th
Floor, New York, New York 10022; Phone
(212) 328-2800; Fax (212) 328-2828. Faxed or scanned copies are binding. Email scanned copies to:
bkanne@savills.com.
ACCEPTED AND AGREED TO
THIS__________DAY OF ________________, 2013
Signature:____________________________________
Name (Printed):_______________________________
Title:_______________________________________
Company:___________________________________
Address:_____________________________________
_____________________________________
Phone Number:________________________________
Fax Number:__________________________________
E-mail Address:________________________________
mailto:bkanne@savills.commailto:bkanne@savills.commailto:bkanne@savills.com
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