Commercial Observer reported that Madison Realty Capital has provided an additional $167 million in construction financing to Manhattan Building Company, the developers of a four-building multifamily development in Jersey City, N.J., three years after supplying a $168 million debt package for the project’s first phase. This marks the second upsize by Madison for the multiphase development and brings its total financing for the project up to $395 million. The Emerson Lofts development site will consist of 1,089-units across three 26-story high-rise residential buildings and one converted warehouse. 

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