G.S. Wilcox & Co. has arranged financing for recently delivered Jersey City apartment building Overlook Flats.

The firm announced Aug. 4 securing an $85 million loan for the property located at 32 Oakland Ave. The funding set up by Partner Wesley Wilcox, Principal Al Raymond and Associate Will Gallagher included a five-year fixed-rate, interest-only structure with very flexible prepayment. A correspondent life insurance company of the firm’s provided the financing, G.S. Wilcox said.

Opened in December 2023 following a fall leasing launch, Overlook Flats features nearly 300 market-rate residences, along with 40,000 square feet of commercial space. G.S. Wilcox noted the building’s “swift lease-up” over the short course of a few months.

In addition to on-site perks and its design, the property is a less than-10-minute walk to the Journal Square PATH Station – offering an ideal location.

Overlook Flats features studios and one-, two- and three-bedroom residences. Indoor and outdoor amenities include an activated rooftop with pool, firepits and lounge, as well as Manhattan skyline views.

Wilcox described the building as “a best in-class product” noting “it was a pleasure working with the borrower to meet their objectives.

“This development is a great example of how building with a long term focus resonates with residents and the lending community alike,” he added.

According to the property website, management is provided by Urban Property Managers. UPM is also part of the same team that designed and developed Overlook Flats.

This transaction follows other recent multifamily refinancing deals in Jersey City, such as $225 million for landmark Kushner Real Estate Group project Journal Squared.