Procida Funding Provides $130M Construction Loan For 507-Unit Multifamily In Cherry Hill, NJ

The Plaza Grande, located at 700 Citation Lane in Cherry Hill, NJ, has been involved in a recent transaction. This multifamily property spans across 250,205 square feet and consists of 507 units. The transaction took place on August 23, 2021.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $130,000,000
• Loan Type: Construction

Procida Funding, represented by Brian Foley, Mike Coen, and Derek Weissman, provided a loan for the transaction. The loan amount amounted to $130,000,000. Additionally, John Fasciano was the builder involved in the process. It's worth noting that the Plaza Grande is a 55 and older community.