Lakeland Bank Provides $1.22M Construction Loan For Mixed-Use Property In Montclair, NJ

A construction loan in the amount of $1,225,000 was provided by Lakeland Bank for the mixed-use property located at 6 Depot Square in Montclair, NJ. The loan was granted to Samer Hanini of Hanini Group. The transaction was facilitated by brokers Frank Stanislaski and John Libretti of Progress Capital.

Summary of transaction details

• Property Type: Mixed-use
• Transaction Amount: $1,225,000
• Address: 6 Depot Square, Montclair, NJ
• Market: Montclair, NJ
• Lender: Lakeland Bank
• Landlord: Samer Hanini - Hanini Group
• Brokers: Frank Stanislaski - Progress Capital, John Libretti - Progress Capital

The loan provided by Lakeland Bank represents a significant investment in the development of the mixed-use property at 6 Depot Square. Samer Hanini, representing Hanini Group, is the landlord for this project. The deal was successfully negotiated with the assistance of Frank Stanislaski and John Libretti, brokers from Progress Capital.