Benefit Street Partners L.L.C. (“BSP”) today announced that Aker, in partnership with multiple vehicles managed by BSP, acquired 55 Riverwalk located in West New York, New Jersey, for $158.5 million. The transaction was facilitated by Jose Cruz, Steve Simonelli, Mike Oliver, Elizabeth DeVesty, and Austin Pierce at JLL on behalf of the seller, a global real estate investment advisor.

55 Riverwalk is a thoughtfully designed residential community situated along the Hudson River in the Port Imperial neighborhood of New Jersey. The property offers residents urban convenience and suburban comforts, featuring parks, waterfront walkways, shopping, dining, and proximity to cultural and recreational activities. With an 8-minute ferry ride to Midtown, 55 Riverwalk provides seamless connectivity to Manhattan. Rose Associates will continue to manage the property.

About Aker

Aker is a vertically integrated operating platform that connects urban living with the outdoors and creates spaces to promote collective well-being. Aker is driven by a commitment to cultivate vibrant neighborhoods and empower high-performing teams to deliver lasting value for residents and the broader community. Aker targets supply-constrained markets with innovation-based employment growth throughout the Northeast. For further information, please visit www.aker.team.

About Benefit Street Partners

BSP-Alcentra is a leading global alternative credit asset manager offering clients investment solutions across a broad range of complementary credit strategies, including direct lending, special situations, structured credit, high yield bonds, leveraged loans and commercial real estate debt and equity. As of September 30, 2024, BSP-Alcentra has $77 billion of assets under management, with over 400 employees operating across North America, Europe and Asia Pacific. BSP is a wholly owned subsidiary of Franklin Templeton. For further information, please visit www.benefitstreetpartners.com.

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