Skinner Properties Secures $4.5M Construction Loan From The Community Preservation Corporation For Multifamily Complex

The property asset involved in this transaction is a multifamily rental complex located at 3020 James Street, Syracuse. The site, formerly the William Howard Taft School, is undergoing conversion to feature 28 residential units. The construction loan provided for this project amounts to $4,500,000, aimed at financing the redevelopment efforts.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $4,500,000
• Lender: The Community Preservation Corporation (CPC)
• Landlord: Skinner Properties
• Loan Type: Construction

The key individuals involved in this transaction include Skinner Properties as the landlord, while The Community Preservation Corporation (CPC) acts as the lender providing the construction financing for the redevelopment project.