In New Jersey, Bravo's closed loans so far are bridge and construction loans from its affiliate, Bravo Property Trust: seven loans totaling $441.8 million in Jersey City, Bayonne, Newark and West Orange. Those loans can be set up as Bridge-to-HUD, with Bravo Capital, a HUD MAP and LEAN lender, providing the long-term HUD loan once the property qualifies.
Bravo Property Trust loans in New Jersey
| Property | City | Loan type | Loan amount |
|---|---|---|---|
| Journal Square | Jersey City | Construction loan | $169,300,000 |
| Waterwalk (180 units) | Bayonne | Bridge-to-HUD construction loan | $68,000,000 |
| Route 440 (218 units) | Jersey City | Construction loan | $65,000,000 |
| 50 Sussex | Newark | Bridge loan | $62,200,000 |
| Alora | Bayonne | Bridge loan | $46,000,000 |
| Jersey City | Jersey City | Bridge loan | $18,250,000 |
| Green Hill | West Orange | Healthcare bridge loan | $13,000,000 |
How Bridge-to-HUD works in New Jersey
| Step | Lender | What happens |
|---|---|---|
| 1. Build or bridge | Bravo Property Trust | Construction or bridge loan to build, buy, finish or stabilize the property |
| 2. Qualify | Bravo Capital | Once the property is built or stabilized, Bravo Capital underwrites it against HUD's 223(f) or 232/223(f) requirements |
| 3. Move to HUD | Bravo Capital | HUD 223(f) for apartments, or HUD 232/223(f) for healthcare: fixed rate, non-recourse, up to 35 years |
Waterwalk in Bayonne is the clearest example: a $68 million senior construction loan for a 180-unit waterfront building on Newark Bay, sponsored by Skyrock Capital, set up to move into long-term HUD financing through Bravo Capital after completion.
"Having construction and HUD lending capabilities allows us to coordinate the financing strategy from groundbreaking through the planned transition to permanent debt."Aidan Birnbaum, Portfolio Manager, Bravo Property Trust (September 15, 2026 release)
HUD 223(f) terms for the takeout
| Term (loans under $130 million) | Market rate | Affordable or subsidized |
|---|---|---|
| Max loan-to-value | 87% | 90% |
| Max loan-to-value with cash-out | 80% | 80% |
| Min debt service coverage | 1.15x | 1.11x |
| Term and amortization | Up to 35 years, fixed, fully amortizing | Same |
| Recourse | Non-recourse, standard carve-outs | Same |
| Mortgage insurance premium | 0.25% at closing, then 0.25% a year | 0.25% |
Who it fits
- Developers building apartments in Jersey City, Bayonne, Newark and the Hudson waterfront who want the permanent loan planned from day one
- Buyers of transitional properties that need lease-up or repairs before HUD
- Skilled nursing and assisted living owners in New Jersey who need a bridge before a 232/223(f) refinance
See the bridge-to-HUD guide Talk to our team
Questions borrowers ask
Does Bravo make HUD loans in New Jersey?
Yes. Bravo Capital is a HUD MAP and LEAN lender that finances apartments and healthcare properties nationwide, including New Jersey. Its closed New Jersey loans so far are bridge and construction loans from its affiliate, Bravo Property Trust, such as the $68 million Waterwalk loan in Bayonne, which was set up to move into a HUD loan after completion.
What is a Bridge-to-HUD loan in New Jersey?
A short-term construction or bridge loan that is planned from the start to be refinanced with a long-term HUD loan once the property is built or stabilized, as with Bravo Property Trust's $68 million Waterwalk loan in Bayonne.
Who provides construction loans for apartments in Jersey City?
Bravo Property Trust, Bravo Capital's affiliated lender, has closed construction loans in Jersey City including $169.3 million for Journal Square and $65 million for Route 440.
About the author
Aaron Krawitz is the founder and CEO of Bravo Capital, a HUD-approved MAP and LEAN lender in New York City. He founded Bravo in 2021 after serving as president of Dwight Capital. Bravo and its affiliate, Bravo Property Trust, have closed more than $2.5 billion in financing, and Bravo closed every HUD firm commitment it received in 2025.
