Benmark Capital Closes $38 Million Refinance For 22-Building Mixed-Use Portfolio In Paterson

The asset involved in the transaction is a mixed-use portfolio located at 168 Rosa Parks Boulevard, 107–109 Beech Street, 137 Governor Street, 130–132 Butler Street, 122–124 Godwin Avenue, 50–54 Clinton Street, and 44–48 12th Avenue in Paterson, NJ. This 22-building workforce housing portfolio contains 203 residential units along with six commercial units and is approximately 99% occupied, reflecting high demand within the market.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Amount: $38,000,000
• Lender: Benmark Capital
• Landlord: Charles Florio - Ania Management
• Loan Type: Refinance
• Units: 203
• Market: Paterson, NJ

The transaction was notable for its execution complexity, as it involved simultaneous refinancing across 22 separate buildings coordinated in a single transaction. The refinancing effort was led by Charles Florio, the Founder and CEO of Ania Management, showcasing Benmark Capital’s capability in managing portfolio-scale financings effectively.