A development site located at 1493 Van Buren Road in Palmer Township, PA 18045, has been secured for a multifamily development project. The site spans 16 acres and has been approved for a total of 216 units. The acquisition loan arranged for this project amounts to $8,350,000 and features an 18-month term with full-term interest-only payments, maintaining a 90% loan-to-cost structure.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $8,350,000
• Lender: BBAM & TCG
• Landlord: Greystone Capital
• Broker Representatives: Bryan Manz & Emil DePasquale - Black Bear Capital Partners
• Loan Type: Acquisition
• Loan Terms: 18-month period with full-term interest-only payments
• Market: Easton, PA

The deal was facilitated by Black Bear Capital Partners, highlighting the involvement of brokers Bryan Manz and Emil DePasquale in the successful arrangement of the financing for Greystone Capital. This acquisition paves the way for a significant multifamily housing development in the Easton market.