Slate Property Group’s Scale Lending
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Scale Lending Provides $46M Bridge Loan on Brooklyn Rental Property
KD Sagamore and Ranger Properties have secured $46 million in bridge financing for Arris Grand, a recently completed multifamily development in Brooklyn’s Clinton Hill neighborhood, Commercial Observer has learned. Slate Property Group’s debt financing arm, SCALE Lending, provided the bridge loan. The $46 million in financing is expected to pay off the final construction costs of the project and also go toward stabilizing the property during lease-up.
Namdar Group scores $243M in financing for Jersey City rentals
Joel Namdar’s Namdar Group nabbed $243 million in financing for two rental buildings in Jersey City’s Journal Square as construction in the neighborhood takes off. The Great Neck-based developer scored a $160 million construction loan for its 27-story tower at 626 Newark from SCALE Lending. The building will have 576 units, 9,915 square feet of… Read more »
Developer Secures $160M For 9 Homestead Place At 618 Pavonia Avenue In Jersey City, New Jersey
Namdar Group has closed on a $160 million bridge loan for 9 Homestead Place, a 27-story residential tower at 618 Pavonia Avenue in Jersey City.Designed by C3D Architecture, the structure will yield 432 rental apartments, 10,000 square feet of ground-floor retail space, a 21,000-square-foot office component, and a collection of amenity spaces. SCALE, the lending offshoot for Slate Property Group, provided the financing and Greystone Capital Advisors brokered the deal.While the… Read more »