GPARENCY Structures $9.2M Bridge Loan For Multi-Family Complex In Stratford, NJ

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.