FM Capital Arranges $6M Bridge Loan For Development Site In Newark, NJ

The development site located at 86-96 Norfolk Street in Newark, NJ has recently secured a short-term bridge land loan. The loan, amounting to $6,000,000, is provided by JG Fund. The site spans across 16,000 square feet and is intended for the construction of a mixed-use building. The loan serves as interim financing while the plans for the building are being finalized.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $6,000,000
• Market: Newark, NJ
• Asset Type: Development Site
• Square Footage: 16,000

The deal was facilitated by Avi Eyal, David Wenger, and Joshua Pollack of FM Capital, representing both the borrower and the lender. They played a crucial role in securing the bridge land loan from JG Fund. For more information or to discuss any financing needs, interested parties can contact Avi Eyal at [email protected].