Updated Sep 22, 2026
Jimmy Bilse Secures $502,875 Construction Loan From IceCap Group For Multifamily Asset In Somerset
970 Hamilton Street
$502,875
Units
1
Asset Type
MultiFamily
Closing
Sep 16, 2026
About this deal
AI
The asset involved in this transaction is a multifamily property located at 970 Hamilton Street in the Somerset market. It consists of 1 unit and has a loan amount of $502,875, categorized as a construction loan.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $502,875
- Lender: IceCap Group
- Lender Representatives: Nolan Poretz, Adam Harris & Bobby Soffer
- Borrower: Jimmy Bilse
- Broker: Gabby Cali
- Broker Agency: Cali Capital
The deal is represented by Gabby Cali, who serves as the broker facilitating the arrangement for the borrower, Jimmy Bilse, with the lender IceCap Group. The individuals involved in the lending side are Nolan Poretz, Adam Harris, and Bobby Soffer, who collectively contribute to the loan process.
Players
Somerset MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
31.54%
Cash-on-Cash
-9.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93