MARK SCOTT’S COMMERCIAL MORTGAGE CAPITAL CLOSES $224.67 MILLION WORTH OF LOANS IN 2012
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 closed a whopping $224.67 million worth of multifamily, office and industrial loans in 2012.
“We are thrilled to announce another hugely successful year at Commercial Mortgage Capital,” said Mr. Scott. “These deals are a testament to our deep and longstanding relationships within the commercial real estate and banking industries, and we anticipate another record year in 2013.”
Mr. Scott added, “With real estate fundamentals improving following a tumultuous tumble over the past several years, now is the time to invest and take advantage of the current low interest rate environment. The recent posturing by the Federal Reserve over the fate of Quantitative Easing has also led to inflationary concerns among investors, and smart money is going to great lengths to lock in today’s low rates.”
Of particular note on the multifamily side were a $20-million permanent loan for a 256-unit apartment complex in Woodbridge, NJ; a $19-million construction loan for a 116-unit apartment building in Rahway, NJ; an $18-million construction loan for a 60-unit apartment complex in Sleepy Hollow, NY; and a $15-millioin permanent loan for 401 apartment units in Keasbey, NJ.
The firm also arranged a $17.5-million permanent loan for 152,149 square feet of office space in Yonkers, NY; a $17-million construction loan for 120 apartment units and 17,652 square feet of retail in Middletown, NY; a $14-million construction loan for 52 residential units and 10,000 square feet of retail in Edgewater, NJ; and an $8.050-million permanent loan for 150,000 square feet of office/industrial flex space in South Brunswick, NJ.
Additional 2012 deals included:
· $20 million permanent loan on 612 apartment units in Old Bridge, NJ.
· $15 million permanent loan on 236 residential units plus three commercial units in Woodbridge, NJ.
· $14.2 million permanent loan on 144 apartment units in Lakewood, NJ.
· $9.5 million permanent loan on 222 apartment units in Parsippany, NJ.
· $9.4 million permanent loan on 45,386 square feet of office in Yonkers, NY.
· $8 million construction loan on 54 apartment units in Wappingers Falls, NY.
· $7.8 million permanent loan on 74 apartment units in Springfield, NJ.
· $5.5 million permanent loan on 146 apartment units in Lindenwold, NJ.
· $3 million construction loan on 22 apartments in Edgewater, NJ.
· $3 million permanent loan on 109 apartment units in Elizabeth, NJ.
· $720,000 permanent loan on 4,400 square feet of retail in Jersey City, NJ.
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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 multi-family, office, retail, industrial and healthcare facilities primarily in New York, New Jersey and Connecticut. During this time, Mr. Scott has personally arranged over $3.9 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 firstname.lastname@example.org. www.newcommercialmortgage.com.