Pearlmark Provides $10M Refinance Loan For 267-Unit Vinty Apartments In Elizabeth, NJ

Pearlmark has provided a $10 million loan to refinance the 267-unit Vinty Apartments in Elizabeth, NJ. The property, owned by LeCesse Development Corp. and MAS Development Group, is currently 85% occupied with retail space that is 68% leased.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $10,000,000
• Address: 100 Union Street, Elizabeth, NJ
• Market: Elizabeth
• Units: 267

JLL Capital Markets arranged the financing for the loan, supporting the ownership venture of LeCesse Development Corp. and MAS Development Group in managing the property.