American Dream Completes $2.77B Construction Financing

By | June 23, 2017

EAST RUTHERFORD, N.J. – American Dream is pleased to announce that Goldman Sachs and JP Morgan have completed the planned sale of $1.1 Billion in tax-exempt bonds for the project. Proceeds from the bond sale, along with the previously closed $1.67 Billion Construction Loan, also provided by JP Morgan and Goldman Sachs, now completes the full financing for the project.

“We are delighted that JP Morgan and Goldman Sachs have completed the full financing for American Dream. The response by the investment community to the bond offering and private financing have been exceptional, both oversubscribed, confirming strong investor confidence in our vision for American Dream. We would like to thank the New Jersey Sports and Exposition Authority, the New Jersey Economic Development Authority and Borough of East Rutherford for their assistance in the bond sale,” said Don Ghermezian, President, Triple Five.

“The now completed financing allows Triple Five to proceed with full construction of this unprecedented project which will create tens of thousands of jobs, bring millions of tourists and billions of dollars in economic growth annually to Bergen County and the State of New Jersey. We look forward to unveiling American Dream to the world in March 2019,” Ghermezian added.