Josh Zegen Of Madison Realty Capital And Stephen Quazzo Of Pearlmark Provide $140M Loan For Development Site In Cherry Hill

The asset involved in this transaction is a development site located at 700 Citation Ln in Cherry Hill, NJ. This property is intended for a 507-unit 55+ rental community known as The Plaza Grande, which is positioned for construction completion and lease-up in close proximity to Philadelphia.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $140,000,000
• Lender: Josh Zegen - Madison Realty Capital
• Lender: Stephen Quazzo - Pearlmark
• Landlord: Billy Procida - Procida Funding & Advisors

This transaction highlights the involvement of key individuals in the financing process, including Josh Zegen and Stephen Quazzo, who facilitated the loan to Billy Procida. The financing aims to support the amenity-rich project, enhancing the demographic's living options in Cherry Hill.