Namdar Group $220M Bridge Loan has reshaped the financial landscape of one of Jersey City’s most ambitious projects. The developer secured the massive financing package from TYKO Capital to refinance its 27-story mixed-use tower at 626 Newark Avenue in the heart of the Journal Square neighborhood, according to an announcement Monday from Walker & Dunlop Inc.

Walker & Dunlop arranged the loan on behalf of Namdar, lining up the capital to strengthen the property’s lease-up phase and stabilize operations.

A Visionary Deal Comes to Life

Aaron Appel, senior managing director at Walker & Dunlop and co-leader of the firm’s New York Capital Markets team, described the deal as tailor-made for the developer’s vision.

“We are glad to have helped structure a solution that aligns with Namdar Group’s goals for 626 Newark,” Appel said. “This transaction appropriately recapitalizes the indebtedness now that the project is built and provides reserves to support a successful lease-up, which is already exceeding expectations.”

Inside the Tower: Luxury Meets Community

The 400,175-square-foot Class-A property is designed with both lifestyle and commerce in mind. Out of that, 290,000 square feet are reserved for residences, while 27,662 square feet house retail space, creating a mixed-use hub that blends living, working, and shopping under one roof.

“626 Newark integrates luxury living with vibrant retail and commercial spaces that foster connection and convenience for all renters and neighbors alike,” said Effy Namdar, CIO of Namdar Group. “This dynamic mix supports a true live-work-play environment, positioning the property as a cornerstone of the rapidly evolving Journal Square community.”

A Cornerstone for Jersey City’s Future

With Journal Square undergoing rapid transformation, the project is being billed as more than just a building—it’s a catalyst for growth.

“We are proud to bring this vision to life for Jersey City,” Namdar added.

Neither Namdar Group nor TYKO Capital immediately responded to requests for further comment. Counsel details for the transaction were not disclosed.