Mid-Atlantic Alliance Secures $10.96M Construction Loan From Builders Capital For Newark Development Site

The property asset involved is a development site located at 535 Dr Martin Luther King Jr Boulevard in Newark. The total building square footage is 12,188 with a buildable square footage of 71,000. The transaction involved a construction loan amounting to $10,965,281.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $10,965,281
• Lender: Builders Capital
• Landlord: Mid-Atlantic Alliance
• Brokers: Chaim Greenfeld, Joseph Sasson & Alex Jaffa - Eastern Union

The key individuals involved in the deal are Chaim Greenfeld, Joseph Sasson, and Alex Jaffa, who represent Eastern Union. These brokers facilitated the transaction, ensuring the loan agreement was successfully established for the landlord Mid-Atlantic Alliance and lender Builders Capital.