Bridge Loan for 63-Unit Multifamily Property in Trenton, New Jersey

Deal Details

Private Loan Type


Approx. Funding Date


Property Type
Property City


Property State


Loan Term (months)


Lien Type

1st Mortgage

Payment Type

Interest Only

Purchase Price


Loan-to-Purchase Price


Occupancy at Closing


Number of Units


Building Square Footage


Exit Strategy


Deal Highlights

Commercial Real Estate Property

Deal Summary

Ontario Wealth Management Corporation, a direct commercial real estate lender, funded a $6,460,000 1st lien position bridge loan for the acquisition of a 63-unit multifamily property in Trenton, NJ. We funded 49.83% of the 10,500,000 purchase price, while the Borrower contributed 50.17% cash at closing. The Spanish Colonial-style building was adaptively repurposed from an iconic Cigar Factory in the mid-80s and features 63 loft-style units with 14-foot ceilings and large private terraces. The Building is tenanted at near full occupancy and has significant rent upside potential once CapEx upgrades to units and common area amenities are completed. It is approximately 65,000 square feet, ideally situated within a 5-minute drive from Downtown and proximate to major transit centers providing connectivity to multiple A-class commercial tenants. The Sponsor is an experienced New Jersey-based real estate investment and management firm whose strategy involves targeting value-add multifamily portfolio acquisitions across the United States. The Borrower plans to refinance as an exit strategy. The loan term was set at 12 months. This multifamily bridge loan was funded in November 2022.

Funded By

Ontario Wealth Management Corporation

Direct Lender for Commercial Real Estate Bridge Loans