Cammeby's International Acquires Multifamily Property In Piscataway, NJ With $115.3M Loan From Signature Bank - Meridian Capital Group Lends Assistance

The multifamily property located at 3060 New Brunswick Avenue in Piscataway, NJ has recently undergone a significant transaction. Spanning across 36 acres, this property comprises 550 units, making it an expansive and lucrative investment opportunity.

Summary of transation details

• Property Type: Multifamily
• Transaction Amount: $115,300,000
• Market: Piscataway, NJ
• Units: 550
• Acres: 36

Cammeby’s International, the landlord, facilitated this transaction with the support of Abe Hirsch, Zev Karpel, and Sean Anderson from the Meridian Capital Group acting as brokers. These capable professionals proved instrumental in reaching a favorable deal for all parties involved.

The acquisition loan of $115,300,000 was provided by Signature Bank. Joseph Fingerman and Paul Kotronis from Signature Bank skillfully structured the loan as a five-year term, featuring three years of interest-only payments. This attractive loan offering allows the landlord ample time to capitalize on their investment while ensuring financial flexibility.