The transaction involved two stabilized mixed-use assets located in the markets of Passaic and Teaneck, with a total square footage of 45,200 and comprising 20 units. The loan amount secured for this acquisition and refinance was $7,000,000 under a cross collateralization loan type with a term of 12 months.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Amount: $7,000,000
• Loan Type: Cross collateralization (acquisition + refinance)
• Loan Terms: 12 Months
• Lender: Guy Shmuel - Swift Capital
• Market: Passaic & Teaneck
• Asset Size: 45,200 SF
• Units: 20

Guy Shmuel of Swift Capital played a crucial role in structuring this cross-collateralized refinance and acquisition deal. The borrower was able to strategically refinance an existing income-producing asset in Teaneck and utilize the obtained proceeds to acquire another stabilized asset in Passaic, effectively expanding their portfolio without new equity. The closing took place in just 15 business days.