FINANCED
GPARENCY Structures $9.2M Bridge Loan For Multi-Family Complex In Stratford, NJ
GPARENCY brokers loan for $9,183,000 in Stratford
MultiFamily
Financed 1 year ago
Summary
Loan
NEW JERSEY
MultiFamily
In Stratford, NJ, a bridge loan was structured by GPARENCY to facilitate the acquisition and renovation of an 82-unit apartment complex. The loan amount totaled $9,183,000, which included 75% of the purchase price and 100% of the renovation budget. The borrower, a GPARENCY member, paid only $4,000 in financing fees for this multi-family property.
Summary of transaction details
- Property Type: Multi-Family
- Transaction Amount: $9,183,000
- Market: Stratford, NJ
- Lender: Avrom Forman - greystone''>Greystone
- Brokers: Ira Zlotowitz, Michael Wyne, Asher Samberg, Duvie Weiss - GPARENCY
- Loan Terms: 80% LTC
Avrom Forman from Greystone served as the lender for this bridge loan. The brokers involved in the deal were Ira Zlotowitz, Michael Wyne, Asher Samberg, and Duvie Weiss, all representing GPARENCY. Together, they facilitated the financing of the acquisition and renovation of the property in Stratford, NJ.
Players
Details
FINANCED
IMAGE: Ira Zlotowitz, Michael Wyne, Asher Samberg, Duvie Weiss & Avrom Forman
DATE: 07/18/2022
MARKET: Stratford, NJ
ASSET TYPE: Multi-Family
LENDER: Avrom Forman - Greystone (@GreystoneCREF)
BROKERS: Ira Zlotowitz, Michael Wyne, Asher Samberg, Duvie Weiss - GPARENCY (@G.parency)
LOAN AMOUNT: $9,183,000
LOAN TERMS: 80% LTC
NOTE: GPARENCY is pleased to announce that we structured the bridge loan to facilitate the acquisition and renovation of this 82-unit apartment complex in Stratford, New Jersey. The loan amount was approximately $9,183,000 which was made up of 75% of the purchase price and +100% of the renovation budget. As a GPARENCY member, the borrower paid only $4,000 in financing fees.View on map
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