Somerset Regal Bank Provides $12.25 Million Refinance Loan For Multifamily Asset In Orange

The property asset involved in the transaction consists of multifamily units located at 150 Cleveland Street & 366 Park Avenue in the Orange market, comprising a total of 134 units. The loan amount secured for this refinance transaction is $12,250,000.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $12,250,000
• Lender: Somerset Regal Bank
• Broker: Russ Drebin - Meridian Capital Group
• Loan Type: Refinance

The transaction was facilitated by Russ Drebin from Meridian Capital Group, representing the interests tied to the refinancing of the property. Somerset Regal Bank provided the financing for the deal, emphasizing the collaboration between these key entities during the transaction process.