JLL arranges $48M construction loan for luxury NJ development
Share JLL Capital Markets has arranged a $48 million construction loan for the development of Phase III of Riverwalk, a luxury residential community in Elmwood Park, New Jersey. Provident Bank and Investors Bank funded the three-year senior loan while Billy Procida’s 100 Mile Fund provided the preferred equity financing. Provident Bank and 100 Mile Fund jointly will provide capital to construct 240 luxury rental units contained in two state-of-the-art residential buildings overlooking the river and adjacent the existing riverwalk path, with covered parking. This next phase of develo...
Source: rew-online.com