American Dream will proceed after completing $2.77B financing

SECAUCUS – American Dream developer Triple Five has announced Goldman Sachs and JP Morgan have sold $1.1 billion in tax-exempt bonds required to fully finance the project in East Rutherford, according to NJBIZ.com, a real estate website.
The sale was completed almost one month after Triple Five closed a $1.67 billion construction loan provided by JP Morgan and Goldman Sachs.
“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,” Triple Five President Don Ghermezian said. “We look forward to unveiling American Dream to the world in March 2019.”
The Triple Five president thanked the New Jersey Sports and Exposition Authority, state Economic Development Authority and borough of East Rutherford for their help during the bond sale.