Valley Bank Provides $11M Construction Loan For Stonegate Buildings In Passaic, NJ

The asset involved in this transaction is a multifamily property located in Passaic, NJ, covering a total square footage of 50,000. The transaction involves a construction loan amounting to $11,000,000, facilitated by Valley Bank, while the landlord is Stonegate Buildings.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $11,000,000
• Lender: Valley Bank
• Landlord: Stonegate Buildings
• Brokers: Zev Feder & Satyam Patel - Meridian Capital Group

Zev Feder and Satyam Patel from Meridian Capital Group represent the landlord, Stonegate Buildings, in this construction loan transaction, playing a crucial role in facilitating the agreement with Valley Bank.