Cronheim Mortgage Secures $6M Loan For Grand Apartments In Hackensack With Farm Bureau Life Insurance

The loan transaction involved Grand Apartments, a 74-unit multifamily building located at 345 Prospect Avenue in Hackensack, Northern New Jersey. Cronheim Mortgage facilitated a $6 million loan through Farm Bureau Life Insurance. The loan was secured by Allison Villamagna, Andrew Stewart, and Dev Morris on behalf of an undisclosed borrower.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $6,000,000
• Address: 345 Prospect Avenue
• Market: Hackensack
• Asset Type: Multifamily
• Units: 74
• Lender: Farm Bureau Life Insurance
• Brokers: Allison Villamagna, Andrew Stewart & Dev Morris - Cronheim Mortgage

The loan arrangement for Grand Apartments in Hackensack, Northern New Jersey, was completed through the representation of Allison Villamagna, Andrew Stewart, and Dev Morris from Cronheim Mortgage. Their expertise and negotiation skills were pivotal in securing the financing for the undisclosed borrower.