Pilla Investments Secures $1,725,000 Construction Loan From Amplend For Paramus Redevelopment

The property asset involved in this transaction is a single-family residence located at 172 Lawson Place in Paramus. The asset has a square footage of 7,000 and is in the process of being redeveloped from its existing 1,780 SF structure. The loan amount secured for this project is $1,725,000, classified as a construction loan with a term of 18 months.

Summary of transation details:

• Property Type: SFR
• Transaction Amount: $1,725,000
• Loan Type: Construction
• Loan Terms: 18 Months
• Lender: Tei Kim - Amplend
• Landlord: Hector Rosero - Pilla Investments

The key individuals involved in this transaction include Tei Kim, who represents Amplend as the lender, and Hector Rosero, representing Pilla Investments as the landlord. According to the note from the landlord, this financing is aimed at redeveloping the existing property into a luxury home.