EDGEWATER
LOAN AMOUNT
$16,500,000
EDGEWATER, NJ
BRIDGE LENDING
CONDO DEVELOPMENT
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.
A private real estate company that focuses in the Brooklyn, New York market, they have been successful in purchasing and renovating properties for over 10 years with 11 years of experience in development and construction in both residential and commercial.
Currently inventory of properties consists of 15 developments and rehabilitations with a total of more than 160,000 SF in addition to 10 managed properties in Brooklyn, NY.
