The property asset involved is a development site located at 110 Bergen Turnpike in Little Ferry, NJ. This asset is associated with a loan amount of $75,000,000 designed to support a 294-unit multifamily development that includes residential units, retail space, and parking facilities.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $75,000,000
• Lender: Martin Nussbaum & Daniel Ridloff - SCALE Lending
• Landlord: George Capodagli - Capodagli Property Company
• Loan Type: Bridge
• Loan Terms: 18-month loan term followed by two six-month extension options

This transaction was facilitated by SCALE Lending, which finalized the bridge loan for Capodagli Property Company aimed at retiring a construction loan. The financing is structured to assist in the lease-up and stabilization of the property over the loan's term.