Freedom Capital Acquires Multifamily Properties In Newark, NJ With $2.4M Loan From Blue Foundry

Freedom Capital has acquired three multifamily properties in Newark. The properties include 310 14th Avenue, 634 15th Avenue, and 293-303 Osborne Terrace. The acquisition was facilitated by Jake Gluck of Blue Foundry. The total loan amount for the transaction was $2,435,000, provided by Blue Foundry. The loan terms do not have a COVID reserve requirement.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $2,435,000
• Address: 310 14th Avenue, 634 15th Avenue & 293-303 Osborne Terrace
• Market: Newark
• Loan Type: Acquisition
• Lender: Blue Foundry
• Landlord: Freedom Capital
• Broker: Jake Gluck - Blue Foundry

Jake Gluck of Blue Foundry played a pivotal role as the broker in this acquisition deal. The terms of the loan provided by Blue Foundry did not require a COVID reserve. The multifamily properties, located at 310 14th Avenue, 634 15th Avenue, and 293-303 Osborne Terrace, were successfully acquired by Freedom Capital.