The Beitel Group has secured a $150 million loan for the development of 120 East 144th Street, a new residential project in Mott Haven, The Bronx. The funding, which was supplied by SCALE Lending, will support the construction of the 13-story, 450-unit property.
A $140 million construction loan has been issued for a new seven-story residential development located at 2366 Bedford Avenue in Flatbush, Brooklyn. The loan was issued by SCALE Lending to Clipper Equity, the project’s developer. It marks a continuation of SCALE Lending’s aggressive financing strategy and pushes its 2024 transaction volume to over $400 million in loans provided.
SCALE Lending, the debt financing arm of Slate Property Group, has provided an $83 million bridge loan to The Namdar Group for the newly completed 26 Van Reipen Avenue in Journal Square, Jersey City. This loan is part of a larger funding package totaling $283 million, which also supported another development, 626 Newark Avenue, within the same neighborhood.
SCALE Lending, the debt financing arm of Slate Property Group, has finalized a $160 million construction loan to The Namdar Group for a new mixed-use development located 626 Newark Avenue in Jersey City. The loan was arranged by Drew Fletcher and Bryan Grover of Greystone Capital Advisors.
SCALE Lending, the debt financing division of Slate Property Group, has finalized a $46 million bridge loan for Arris Grand, a recently completed nine-story residential building at 982-998 Fulton Street in Clinton Hill, Brooklyn. The loan will be utilized to pay off the existing construction loan and support the lease-up phase of the multifamily building.