Valley National Bank Provides $6.8M Loan For Elizabeth Multifamily Acquisition

The property involved in the transaction is a 22,000-square-foot apartment building located at 737-745 N. Broad St, Elizabeth, NJ, 07208. The asset is a mix of one- and two-bedroom units, built in 2017. The acquisition loan provided by Valley National Bank for this property amounted to $6,800,000.00. Nate Lowy of Juniper Capital Group served as the Borrower's Rep in this deal.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $6,800,000.00
• Market: Elizabeth
• Lender: Valley National Bank
• Interest Rate: 4.25%

In this deal, Nate Lowy of Juniper Capital Group represented both the undisclosed borrower and Valley National Bank. The financing terms included a five-year loan with a 4.25 percent interest rate.