Anthony R. Iervolino Of AI Capital Lending Funds $9.6M Multifamily Construction Loan In New Jersey

A total of 48 residential units are involved in the ground-up construction project in New Jersey. The property encompasses a retail space, with an overall size of 41,633 square feet. The loan amount secured for this project is $9,600,000, which is designated for construction purposes.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $9,600,000
• Location: New Jersey
• Asset Size: 41,633 SF
• Units: 48
• Lender: Anthony R. Iervolino - AI Capital Lending
• Loan Type: Construction
• Loan Terms: 12 Months

Anthony R. Iervolino, the Managing Partner at AI Capital Lending, facilitated the funding for this project. The financing structure not only supports the construction but also allows for an equity recapture for the borrower. AI Capital Lending utilizes 100% discretionary capital, enabling swift and certain transaction closures.