The Borrower was seeking to refinance an existing multi-family property for repositioning purpose in Riverside, New Jersey. JLJ loan will be taken out by permanent financing after rent increases and or a sale of the property.
Borrower has been in the real estate industry for over 15 years. With a focus on long-term ownership and high-quality multi-family assets in economically strong markets, and a current portfolio of over 2,500 residential and commercial units, the borrower has been one of the most active buyers in the New Jersey-Delaware housing market over the past ten years. He has done multiple transactions with JLJ Capital.