Deerwood closes $9 million bridge loan on Jersey office property
MONTVALE, NJ — Deerwood Real Estate Capital, a commercial real estate advisory firm based in Englewood Cliffs, NJ, closed a $9 million non-recourse bridge loan on a 100,000 s/f multi-tenant office building in Montvale. Despite significant delays and difficulties caused by the seller, Deerwood kept the lender focused on the deal and closed at even more competitive terms than initially agreed upon. The loan was funded at 80% of the purchase price and an additional future-funded amount of 100% of leasing cost and capital expenses. Deerwood’s Yaakov Leiser negotiated the deal.