First Phase of East Orange MXU Closes on $133M Recapitalization

First Phase of East Orange MXU Closes on $133M Recapitalization

Co-developers Triangle Equities and Incline Capital closed on the recapitalization of construction financing for the first phase of The Crossings at Brick Church Station, a mixed-use development located directly adjacent to NJ Transit’s historic Brick Church Train Station in East Orange, NJ. The recapitalization totals $133.5 million, led by a $115-million senior secured bridge loan from funds managed by affiliates of Fortress Investment Group a…