Black Bear Capital Partners ("BBCP"), along with Stormfield and BBAM, has provided an $18.575 million loan for a multifamily development project in Easton, PA.

The property asset involved in the transaction is located at 1492 Van Buren Road in Easton, PA. It comprises 320 apartments and 92 townhomes, and the transaction includes a total loan amount of $18,575,000 for land acquisition. The financing structure consists of $6 million in senior debt, $5 million in preferred equity, and a $7.57 million credit facility, all structured within an 18-month period featuring full-term interest-only payments at 90% loan-to-cost.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $18,575,000
• Address: 1492 Van Buren Road
• Market: Easton, PA
• Units: 320 Apartments & 92 Townhomes
• Lender: Stormfield (Senior Loan) & BBAM / Carlton Associates, Inc. - Jack D. Cohen Joint Venture (Preferred Equity + Credit Facility)
• Landlord: Greystone Capital
• Brokers: Bryan Manz & Emil DePasquale - Black Bear Capital Partners
• Loan Type: Land Acquisition
• Loan Terms: Structured financing secured for land acquisition approved for the development of the asset

Key individuals involved in the deal include Greystone Capital as the landlord and the joint venture of BBAM and Carlton Associates, Inc., led by Jack D. Cohen, providing preferred equity and credit facilities. The brokers facilitating this transaction are Bryan Manz and Emil DePasquale from Black Bear Capital Partners, representing the interests of the landlord during this acquisition process.