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Deal Details
Private Loan Type
Commercial Ground-Up Construction
Approx. Funding Date
10/01/2018
Property Type
Multifamily
Property City
Burlington County
Property State
NJ
Loan Term (months)
12
Lien Type
1st Mortgage
Payment Type
Interest Only
Deal Summary
Commonwealth Capital, a direct private lending firm, funded a $600,000 1st lien position ground-up construction loan for a 64-unit multifamily project in Burlington County, NJ. This included a bridge to construction financing for site work and soft costs on the 64-unit multifamily project. The loan term was set at 1 year. This commercial ground-up construction loan was funded in October 2018.
Funded By
Commonwealth Capital
Direct Bridge Lending for Real Estate Owners