Cronheim Mortgage Arranges $49M Permanent Loan For 191-unit Multifamily Property At 1 Housel Circle, Hillsborough, NJ

A multifamily property located at 1 Housel Circle in Hillsborough, NJ has recently closed on a loan transaction. The property consists of 191 units and was involved in a loan deal facilitated by brokers David Turley and Janet Proscia from Cronheim Mortgage.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $49,000,000
• Loan Type: Permanent Loan
• Loan Terms: The loan is a seven-year term with two years of interest-only payments. It includes a 30-year amortization schedule.

The loan was structured with a loan amount of $49,000,000. It is a permanent loan with a term of seven years. The loan terms include two years of interest-only payments, followed by a 30-year amortization schedule. David Turley and Janet Proscia from Cronheim Mortgage represented the parties involved in this loan transaction.