Finance & DevelopmentFinanceJLL Closes Sale of Two Marriott-Branded Properties in New Jersey

JLL Closes Sale of Two Marriott-Branded Properties in New Jersey

NEW YORK—JLL’s Hotels & Hospitality Group announced that it has closed the sale of two Marriott brand hotels totaling 372 keys along the Hudson River in Weehawken, New Jersey.

JLL represented the seller, Veris Residential, in the all-equity sale to Navika Capital Group, LLC. The hotels were offered unencumbered by management.

The portfolio includes the 208-key EnVue Autograph Collection Port Imperial and the 164-key Residence Inn Port Imperial. The hotels, which opened in 2019 and 2018, respectively, operate under one building complex at the center of the $4 billion mixed-use development that is in the final phases at Port Imperial. The property has a collective 15,000 square feet of outdoor space, over 27,000 square feet of meeting and conference space, and a fitness center.

Adjacent to the Port Imperial Ferry Terminal, the hotels provide guests with access to Manhattan via the NY Waterways ferry. As a result of this connectivity, guests can easily visit New York’s attractions, including Hudson Yard, The High Line, Penn Station, Wall Street, The Battery, New York City Hall, The One World Trade Center, and more. The hotels are proximate to Newark Liberty International Airport.