Triangle Equities and Incline Capital Close $135.5M Recapitalization for Brick Church Station Project

The mixed-use development will bring new housing, retail, and community services to East Orange, New Jersey.

Published on Feb. 22, 2026

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Co-developers Triangle Equities and Incline Capital have closed on a $135.5 million recapitalization of construction financing for the first phase of The Crossings at Brick Church Station, a transformative mixed-use development in East Orange, New Jersey. The financing includes a $115 million senior secured bridge loan from Fortress Investment Group and $16.5 million in Low Income Housing Tax Credit equity from Affordable Equity Partners.

Why it matters

The Crossings at Brick Church Station project is a major redevelopment effort that will bring much-needed housing, retail, and community services to downtown East Orange. The project's strategic location adjacent to the Brick Church Train Station will also improve regional connectivity for residents.

The details

The first phase of The Crossings at Brick Church Station includes the Embark at The Crossings residential building with 400 apartments, as well as a grocery-anchored retail component featuring a ShopRite supermarket and other community-serving tenants. The development is designed to meet rigorous sustainability standards and will ultimately deliver around 1,000 new residences and over 200,000 square feet of retail space.

  • The recapitalization closed on February 18, 2026.

The players

Triangle Equities

A co-developer of The Crossings at Brick Church Station project.

Incline Capital

A co-developer of The Crossings at Brick Church Station project.

Fortress Investment Group

A global investment management firm that provided a $115 million senior secured bridge loan for the project.

Affordable Equity Partners

A firm that provided $16.5 million in Low Income Housing Tax Credit equity for the project.

Basis Investment Group

An investment firm that is part of the growing development team for The Crossings at Brick Church Station.

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What they’re saying

“This investment from Fortress and Affordable Equity Partners is more than just an investment in The Crossings. It is an investment in East Orange and the region at large, allowing us to deliver hundreds of new housing units, along with much-needed retail offerings and job opportunities.”

— Josh Weingarten, Executive Vice President, Triangle Equities (nyrej.com)

“We're pleased to support the ongoing development of The Crossings and the enhancements that the development will bring to East Orange for existing and new residents. This financing is a great example of our focus on working with established and skilled developers to support the development of high-quality, high-demand commercial real estate across the country.”

— Spencer Garfield, Global Co-Head of Real Estate Debt, Fortress Investment Group (nyrej.com)

“We're proud to invest in The Crossings at Brick Church Station to support the delivery of affordable housing in a community where the need is significant. Our mission is to invest in quality housing where our families would be proud to live, and we're pleased to advance a strong development effort that will contribute to the revitalization of downtown East Orange.”

— Walker Smith, President, Affordable Equity Partners (nyrej.com)

What’s next

The development team has launched leasing at the Embark at The Crossings residential building, which will deliver 400 apartments.

The takeaway

The Crossings at Brick Church Station project represents a significant investment in the revitalization of downtown East Orange, bringing new housing, retail, and community services to the area while also improving regional connectivity through its proximity to the Brick Church Train Station.