NEWARK | 55 Union Street | FT | 12 FLOORS

J&L Companies , a private, family-owned and operated, real estate investment company based in Newark, N.J., has nabbed $94 million in construction debt from four banks to finance a mixed-use, multifamily development that will be located in the company’s stomping grounds, Commercial Observer has learned.

Valley National Bank , Bank Hapoalim , Abanca USA , and TriState Capital Bank combined to provide the debt on the planned 12-story, 403-unit multifamily property, which will also include more than 3,000 square feet of retail space and a parking garage with almost 200 spaces.