EDGEWATER

$16,500,000 Bridge Loan ​

The Borrower was seeking to refinance a piece of raw land proposed to host a 383-unit mixed used residential/retail condominium development located in Edgewater, New Jersey. JLJ Capital was able to underwrite and close the loan within 3 weeks upon the execution of term sheet for the borrower to refinance the property prior to maturity.

Borrower Credential

Borrower has 10 years of experience in real estate and is currently involved development in excess of 1 billion dollars.

REAL ESTATE PROFILE

Location: Edgewater, NJ

Property Type: Vacant Land for Condo Development

Site Size: 11.37 acres

TRANSACTION KEY TERMS

Closing Date: December 2018

Loan Type: Senior Mortgage

Loan Amount: $16,500,000

Term: 12 Months with 2 Built-in 6-Month Extension Options

OTHER TRANSACTIONS

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