Black Bear Capital Partners ("BBCP") Arranges $32.8M Capitalization for 80-Unit Multifamily Development in West New York, NJ

The 80-unit Multifamily property located at 6205-19 Madison Street in West New York, NJ, was financed through a $22,800,000 Construction loan from Popular Bank. The total capitalization of the project amounted to $32,800,000, with $10,000,000 of equity coming from Black Bear Asset Management and Echevarria Industries.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $32,800,000
• Units: 80
• Lender: Popular Bank
• Landlord: Mario F. Echevarria
• Brokers: Emil DePasquale & William McGovern - Black Bear Capital Partners

Emil DePasquale and William McGovern of Black Bear Capital Partners facilitated the deal as brokers representing the parties involved, ensuring the successful financing of the Multifamily property development. Mario F. Echevarria acted as the landlord overseeing the project, collaborating with Popular Bank for the construction loan.