PGIM Provides $34.5M Acquisition Loan For Mixed-Use Property In Edgewater, NJ

Skylight Real Estate Partners, in partnership with PCCP, has secured a floating rate acquisition loan of $34,500,000 for the mixed-use property located at 340 Old River Road in Edgewater, NJ. The property consists of 100 units and is owned by Waterton Associates. The loan was provided by PGIM.

Summary of transaction details

• Property Type: Mixed-use
• Transaction Amount: $34,500,000
• Units: 100
• Address: 340 Old River Road, Edgewater, NJ
• Market: Edgewater, NJ

Skylight Real Estate Partners, in collaboration with PCCP, successfully secured the acquisition loan from PGIM for the 100-unit mixed-use property at 340 Old River Road. The loan terms include a five-year floating rate structure. The deal was facilitated by brokers Michael Klein and Matthew Pizzolato from JLL. The property was sold by Waterton Associates, with JLL brokers Jose Cruz, Steve Simonelli, Michael Oliver, and J.B. Bruno representing the seller.