SCALE Lending Provides $120M Construction Loan for Jersey City Apartment Complex

Namdar Group has scored a $120 million construction loan to fund a multifamily project in Jersey City, N.J., Commercial Observer has learned.

SCALE Lending, the financing arm of Slate Property Group, provided the debt in a transaction negotiated by Matthew Hirsch and Bryan Grover of Greystone Capital Advisors.

Scale Lending originates $38M inventory loan for unsold UWS condos

Scale Lending recently provided a $38 million inventory loan for more than two dozen unsold units at a luxury condominium on the Upper West Side. The borrower is Simon Baron Development Group, who, along with Quadrum Global, developed the Chamberlain, a 38-unit condo building at 269 West 87th Street.

Slate Property’s Scale Lending Strikes First Deal For a Brooklyn Resi Project

Scale Lending — a partnership between Slate Property Group and the Carlyle Group — has closed on its first deal in New York. The platform provided a $35 million construction loan for 834 Pacific Street in Brooklyn, according to the company. Happy Living Development is planning to convert a Prospect Heights rectory into a residential rental project at the site.