CDPQ leads $331m financing for Tishman Speyer’s Jersey City tower
Summary
Caisse de d\xe9p\xf4t et placement du Qu\xe9bec (CDPQ) has participated in a $331m (291m) financing package for a 40-storey US apartment tower being developed by Tishman Speyer.Real estate fund manager Tishman Speyer said it had secured the full construction financing with the Canadian investor as lead investor for the 50 Hudson Street development in Jersey City.The 50 Hudson Street project, the second tower in a two-building development along the Hudson River, is expected to begin construction this spring, with completion targeted for 2028. The tower will offer 924 rental apartments, including studios and one-bedroom and two-bedroom homes.Tishman Speyer said construction of the first phase at 55 Hudson Street, a 58-storey building with 1,017 rental apartments, is scheduled for opening in early 2027.Erik Rose, Tishman Speyer senior managing director, said: 50 and 55 Hudson are designed to complement and enhance the Jersey waterfront, bringing new homes, additional shops, and activated public outdoor spaces for the entire community to enjoy.To read the latest IPE Real Assets magazine click here.