Raritan - JLJ CAPITAL

RARITAN

LOAN AMOUNT

$9,800,000

Lending Programs - New Jersey
RARITAN, NJ
Lending Solutions - Bride Lending
BRIDGE LENDING
Lending Programs - Multi-Family
MULTI-FAMILY

THE PROJECT

JLJ Capital has provided a $9,800,000 acquisition loan for the purchase of 14 contiguous parcels of land located in Raritan, New Jersey for the development of a 276-unit 4-story elevatored multi-family complex. The developer was in the process of obtaining a long-term tax abatement on the development costs.

Sponsor has developed project cash flow showing net operating income in excess of $5 Million annually. JLJ loan was able to provide enough time for Developer to develop a construction budget and have the project shovel ready before being paid off by construction financing.

BORROWER CREDENTIAL

A developer and GC on all their projects, they have managed to build over 1,000 units with hundreds more in their pipeline. By design they are structured this way to scale their business at an accelerated rate without compromising on its high standard.

With a stellar reputation on their ability to develop on quality over quantity, they have managed to amass a net worth north of $50,000,000.

TRANSACTION KEY TERMS

Closing Date March 2018

Loan Type Acquisition/Land Loan

Loan Amount $9,800,000

Term 12 Months

Location Raritan, NJ

Property Type Vacant Land for Multi-Family Development

Gross Square Footage 145,000 sq ft

EXPLORE JLJ CAPITAL BRIDGE LENDING TRANSACTIONS

EDGEWATER

EDGEWATER

$16.5 MM

PROSPECT LEFFERTS GARDEN

PROSPECT LEFFERTS GARDEN

$7.4 MM

RIVERSIDE

RIVERSIDE

$4.1 MM

WESTWOOD

WESTWOOD

$2.2 MM

WESTVILLE & CLEMENTON

WESTVILLE & CLEMENTON

$8.0 MM

FAIR LAWN

FAIR LAWN

$5.6 MM

BEXAR COUNTY

BEXAR COUNTY

$3.0 MM

NORTH  WILLIAMSBURG

NORTH WILLIAMSBURG

$38.0 MM

RARITAN

RARITAN

$9.8 MM

EAST  WILLIAMSBURG

EAST WILLIAMSBURG

$7.5 MM

EXPLORE JLJ CAPITAL'S LENDING PROGRAMS

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