Paul McCormick & Ben Schlegel Arrange $8.1M Equity Financing For Mixed-Use Property In West Orange

The property asset involved in this transaction is a mixed-use building located at 555 Northfield Avenue in West Orange, NJ. This Class-A multifamily property consists of 70 units and offers a total square footage of 80,000. The property was built in 2023 and includes two commercial units, with an equity loan amount of $8,100,000 arranged for its acquisition.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Amount: $8,100,000
• Units: 70
• Square Footage: 80,000
• Address: 555 Northfield Avenue
• Market: West Orange
• Loan Type: Equity

The key individuals involved in this transaction include the brokers Paul McCormick and Ben Schlegel, who represent the borrower in this acquisition deal. They are associated with Ariel Property Advisors, the agency responsible for arranging the financing for the property.