The Pomeranc Group Secures $97.7M Acquisition Loan For Mountain View Crossing Apartments

The Pomeranc Group has secured a $97.7 million acquisition loan for the Mountain View Crossing apartment complex in Wayne, New Jersey. The 465-unit multifamily property, located at 650 State Route 23, is receiving ongoing renovations and improvements with the support of this funding. The Class A complex is set to benefit from the five-year loan provided by Greystone, a leading lending institution in the industry.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $97,692,000
• Units: 465
• Lender: Greystone
• Loan Type: Acquisition Loan
• Loan Terms: 5 years
• Landlord: Michael Pomeranc - The Pomeranc Group
• Brokers: John Alascio, TJ Sullivan, Chuck Kohaut, John Spreitzer, Jason Blankfein, and Mitch Rothstein - Cushman & Wakefield

This financing deal showcases the collaboration between The Pomeranc Group and Greystone. Triloki Kaushal, Judah Rosenberg, and Zane Teslik from Greystone played a crucial role in securing the loan for this multifamily asset. Additionally, Cushman & Wakefield, represented by John Alascio, TJ Sullivan, Chuck Kohaut, John Spreitzer, Jason Blankfein, and Mitch Rothstein, acted as the brokers in this transaction. With their combined expertise, the successful acquisition loan will support the enhancement of Mountain View Crossing and contribute to its long-term success in the Wayne market.