Commercial Mortgage Capital (CMC) arranged financing in the amount of $35.5 million secured by Rose Hall, 100 brand new luxury apartments in Madison, NJ.
Rose Hall is steps from Madison’s best restaurants and shopping. Close to the Madison Train Station, less than a mile from Rte. 24, providing quick access to Rtes. 78 and 287.
The borrower, the KRE Group locked in a low, long-term, self-liquidating loan while construction of this beautiful project was underway. CMC’s life
LIVINGSTON, NJ — Mark Scott, of Commercial Mortgage Capital (CMC), has structured and closed $48.5 million in construction financing for Phase II of Southgate at Middletown. Phase II of Southgate at Middletown is comprised of 201 luxury apartments and follows the highly successful and fully leased 108 luxury apartment units of Phase I, completed in 2017. Middletown is located in Orange County, NY. The subject property is located .25 mile north of I-84; .25 mile west of Route
I mentioned in the Mid Atlantic Real Estate Journal several months ago that at least one of our big regional lenders for the state of New Jersey no longer wanted to do multifamily construction and was pulling back on new multifamily lending and only lending to their premier existing clients.I can understand this rationale. Many of the industry reports indicate thousands of units coming online throughout the metropolitan region. In some places, it is truly amazing, however “th