Cali Capital Secures $35 Million Construction Loan For Development Site In Somerset

The asset involved in this transaction is located at 752 Hamilton Street in the Somerset market. It is classified as a development site with a building square footage (BSF) of 206,246 and a total square footage (SF) of 112,975. The loan amount secured for this property is $35,000,000, which falls under the category of construction loan with terms of 30 months plus a 6-month extension option.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $35,000,000
• Asset Address: 752 Hamilton Street
• Market: Somerset
• Building Square Footage: 206,246
• Total Square Footage: 112,975
• Loan Type: Construction
• Loan Terms: 30 months + 6-month extension
• Number of Units: 121 (120 apartments + 1 commercial)
• Broker: Gabby Cali - Cali Capital

Gabby Cali from Cali Capital represented the financing side of this transaction, successfully securing favorable loan terms alongside an aggressive interest rate through bank financing. Cali Capital specializes in arranging financing options for development projects and properties.