Press Release brought to you by Commercial Mortgage Capital

MARK SCOTT’S COMMERCIAL MORTGAGE CAPITAL ARRANGES MORE THAN $30 MILLION IN REAL ESTATE LOANS

06/03/2013

Livingston, NJ – Mark Scott’s Commercial Mortgage Capital (CMC), a leader in real estate finance that arranges permanent, construction and mezzanine loans for a wide range of commercial properties including multifamily, office, retail, industrial and healthcare facilities primarily in New York, New Jersey and Connecticut, announced that it has recently closed $31.6 million worth of loans with life company correspondents and regional banks.

“We are pleased to announce our latest Commercial Mortgage Capital transactions, which support our strategy of arranging financing for multifamily real estate projects in the Tri-State region,” said Mr. Scott, Founder and Principal of CMC. “These loans speak to our ability to facilitate the proper financing structure for a range of borrowers in an expedited manner. We understand the competitive marketplace and offer quick turnaround as well as responsive and professional guidance throughout the entire loan process.”

These deals serve to showcase Mr. Scott’s intimate knowledge and command of the local markets. The six most recent multifamily transactions that closed were:

  • The Crossings at Ewing – Ewing, NJ

Mark Scott’s Commercial Mortgage Capital arranged an $11-million permanent first mortgage loan that with a life company correspondent. The subject is a three-story, 120-unit luxury apartment complex comprised of five buildings on more than 12 acres, located in Ewing, NJ. The unit mix includes 36 one-bedroom/one-bath units and eighty four two-bedroom/two-bath residences. The Crossings at Ewing is located just minutes away from the Hamilton and Princeton Junction train stations, allowing easy access to New York City or Philadelphia.  

  • Wellsbrook – Neptune, NJ

The firm arranged a $9.75-million, 10-year first mortgage refinance for luxury garden apartment and townhouse development Wellsbrook in Neptune, NJ. The 11-building complex contains 82 two-bedroom units. Nepture, which is located in the southeastern portion of Monmouth County, is primarily residential, with some office and retail properties. Monmouth County, meanwhile, boasts access to the Garden State Parkway and I-95, which has attracted a variety of employers including Meridian Health System, Centra State Healthcare and Bayshore Community Health Services.

  • Parkside Court Apartments – Ewing, NJ

The firm arranged a $4-million, 10-year first mortgage refinance for Parkside Court Apartments located in Ewing, NJ. with a local NJ Bank. The two-building garden apartment complex contains a total of 96 residential units in a largely residential neighborhood, with a large park adjacent to the property. Located only 35 miles northeast of Philadelphia, the town offers excellent access to employment centers in New Jersey and the Philadelphia region.

  • East Homestead Avenue/Grantwood Boulevard – Palisades Park, NJ

The firm arranged a $2.6-million first mortgage, bank refinance for a two-building garden apartment complex in Palisades Park, which is located just six miles from New York City. A 14-unit residence is located on East Homestead Avenue, while the other 12-unit property is situated on Grantwood Boulevard. The complex is located in Bergen County, which is the most populous in the State of New Jersey, and boasts a range of major employers, including Valley Health Systems, Quest Diagnostics, Hackensack University Medical Center and Unilever Foods.  

  • Brittany Apartments – Elizabeth, NJ

The firm arranged a $2-million, 10-year refinance bank  loan for a 47-unit, fully-leased garden apartment in Elizabeth, NJ. Brittany Apartments is a three-story building that consists of 47 units – 12 two-bedrooms, four 1.5-bedrooms and 21 single bedroom units. Each unit has an on-site parking space. The property is situated in Union County, which boasts a range of healthcare companies as tenants, including Merck & Company, Schering Plough, Novartis and Overlook Hospital as well as Lucent Technologies, General Motors and Exxon Research Center.

  • Paradise Apartments – Roselle Park, NJ

The firm arranged a $2-million, 10-year first mortgage refinance bank loan for a three-story, 6-unit luxury apartment building in Roselle Park, NJ. The property boasts nine studio apartments, 44 one-bedroom units and three two-bedroom residences, as well as dedicated parking for residents. Route 28 passes through Roselle Park and the Garden State Parkway skirts the western boundary of the borough. In addition, the Roselle Train Station offers New Jersey Transit commuter rail services as part of the Raritan Valley Line Service.

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Mark Scott’s Commercial Mortgage Capital

Since its inception in 1996, Mark Scott’s Commercial Mortgage Capital (CMC) has been a leader in real estate financing - arranging permanent, construction and mezzanine loans for a wide range of commercial properties including multifamily, office, retail, industrial and healthcare facilities primarily in New York, New Jersey and Connecticut. During this time, Mr. Scott has personally arranged over $3.7 billion of debt and equity financing. He understands the competitive marketplace and offers quick turnaround as well as responsive and professional guidance through the entire loan transaction. Mr. Scott can be reached at 973.716.0006 or mscott@newcommercialmortgage.com. www.newcommercialmortgage.com.

06/03/2013 - 15:35

Source

Commercial Mortgage Capital

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