FINANCED
Black Bear Capital Partners Arranges $5.55M Construction Loan For East Rutherford Multifamily
315 Railroad Avenue
MultiFamily
Financed 18 days ago
Summary
Loan
NEW JERSEY
MultiFamily
The property located at 315 Railroad Avenue in East Rutherford, NJ, is a multifamily asset with 23 luxury apartment units. The construction of this new property was financed with a $5,550,000 construction loan. The loan terms stipulate that it is a 2-year floating-rate loan at 70% LTC provided by a balance sheet lender.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $5,550,000
- Units: 23
- Market: East Rutherford, NJ
- Brokers: Emil DePasquale & Brandon Harris - Black Bear Capital Partners
- Loan Type: Construction
Emil DePasquale & Brandon Harris from Black Bear Capital Partners facilitated the financing for the construction of the new multifamily property at 315 Railroad Avenue. The lenders provided the necessary funds to bring to life the 23 luxury apartment units in this development.
Players
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3
Agents
2
Agencies
1
Details
FINANCED
IMAGE: Emil DePasquale & Brandon Harris
DATE: 04/17/2024
ADDRESS: 315 Railroad Avenue
MARKET: East Rutherford, NJ
ASSET TYPE: Multifamily ~ UNITS: 23
BROKERS: Emil DePasquale & Brandon Harris - Black Bear Capital Partners (@BlackBearCapitalPartners)
LOAN AMOUNT: $5,550,000
LOAN TYPE: Construction
LOAN TERMS: The construction of a new multifamily property that will consist of 23 luxury apartment units was financed via a 2-year floating rate loan at 70% LTC. The financing was provided by a balance sheet lender.View on map
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Address315 Railroad Avenue
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