Black Bear Capital Partners (“BBCP”) is pleased to announce the successful extension of a construction loan for $22,800,000, an MultiFamily property located in West New York, NJ

The property asset involved in this transaction is an 80-unit multi-family residential development located at 6207 Madison Street in West New York, New Jersey. The total loan amount secured for this construction project is $22,800,000, structured as a construction loan with terms spanning 6 months.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $22,800,000
• Loan Type: Construction
• Loan Terms: 6 Months
• Lender: Popular Bank
• Landlord: BBAM
• Capital Market Advisors: Emil DePasquale & Bryan Manz - Black Bear Capital Partners

In this transaction, Black Bear Capital Partners served as the capital market advisors, facilitating the successful extension of the construction loan for the development project. The financing was structured with a floating interest rate and included full term interest-only payments.