EJM Development Secures $7.34M Refinance Loan From Fannie Mae For Multifamily In Linden

The property asset involved in this transaction consists of a multifamily complex located at 101 East Blancke Street, 120 East Price Street, and 1310 Harding Avenue in the Linden market, comprising a total of 55 units. The transaction includes a refinance loan amounting to $7,345,000 with a fixed interest term of five years and one year of interest-only payments.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $7,345,000
• Loan Type: Refinance
• Loan Terms: 5 Years Fixed, 1-year interest only
• Lender: Fannie Mae
• Landlord: EJM Development
• Landlord's Representative: Trevor Fiebel, Nat Gambuzza, Josh Lipsey, Charles Rigoglioso & Nick Balancia - Berkadia

The deal involved key representation by multiple brokers from Berkadia, ensuring critical roles were filled by Trevor Fiebel, Nat Gambuzza, Josh Lipsey, Charles Rigoglioso, and Nick Balancia. Their combined expertise facilitated the refinancing process for EJM Development, the landlord of the multifamily property.