Jason Kaplan Of Kaplan Companies Secures $36M Construction Loan From Provident Bank For Development Site In Sayreville

925 Main Street, located in Sayreville, is a development site where a construction loan was secured. This site will accommodate a 142-unit multifamily project as part of the Camelot on Main development. The project will feature eight affordable units alongside a full suite of amenities.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $36,000,000
• Lender: Provident Bank
• Loan Type: Construction
• Loan Terms: three-year, floating-rate
• Landlord: Jason Kaplan - Kaplan Companies
• Broker: JLL

JLL played a significant role in arranging the financing for this project, facilitating the three-year, floating-rate construction loan from Provident Bank. The involvement of Jason Kaplan as the landlord indicates a focused interest in developing this site into a multifamily residential space.