Edgewater - JLJ CAPITAL

EDGEWATER

LOAN AMOUNT

$16,500,000

Lending Programs - New Jersey
EDGEWATER, NJ
Lending Solutions - Bride Lending
BRIDGE LENDING
Lending Programs - Condo Development
CONDO DEVELOPMENT

THE PROJECT

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

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.

TRANSACTION KEY TERMS

Closing Date December 2018

Loan Type Senior Mortgage

Loan Amount $16,500,000

Term 12 Months *2 Built-in 6-Month Extension Options

Location Edgewater, NJ

Property Type Vacant Land for Condo Development

SITE SIZE 11.37 Acres

EXPLORE JLJ CAPITAL BRIDGE LENDING TRANSACTIONS

WESTWOOD

WESTWOOD

$2.2 MM

NORTH  WILLIAMSBURG

NORTH WILLIAMSBURG

$38.0 MM

EDGEWATER

EDGEWATER

$16.5 MM

BEXAR COUNTY

BEXAR COUNTY

$3.0 MM

RARITAN

RARITAN

$9.8 MM

PROSPECT LEFFERTS GARDEN

PROSPECT LEFFERTS GARDEN

$7.4 MM

RIVERSIDE

RIVERSIDE

$4.1 MM

FAIR LAWN

FAIR LAWN

$5.6 MM

WESTVILLE & CLEMENTON

WESTVILLE & CLEMENTON

$8.0 MM

EAST  WILLIAMSBURG

EAST WILLIAMSBURG

$7.5 MM

EXPLORE JLJ CAPITAL'S LENDING PROGRAMS

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