Fadi Samaan Secures $27.7M Refinance Loan For 104-Unit Station At Passaic From Dwight Capital

The asset involved is a multifamily property located at 99-11 Passaic Street in Passaic, NJ. The property consists of 104 units, including 96 two-bedroom and 8 one-bedroom units, along with 7,813 square feet of commercial space. The loan amount secured for this asset is $27,700,000, intended for refinancing purposes.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $27,700,000
• Lender: Jonathan Pomper & Noah Greenwald - Dwight Capital
• Landlord: Fadi Samaan
• Loan Type: Refinance
• Year Built: 2024
• Units: 104
• Commercial Space: 7,813 square feet

Jonathan Pomper and Noah Greenwald from Dwight Capital facilitated the refinancing loan for Fadi Samaan, who is the landlord of the property. The refinancing effort aimed to retire construction debt, fund repairs, and establish reserves for the property located in the Passaic market.