Massey Knakal Capital Services Closes A $13.5 Million Loan In New Jersey
Massey Knakal Capital Services is pleased to announce the closing of a $13,500,000 million cash-out refinancing, collateralized by a 201-unit garden style apartment complex in southern New Jersey. The loan featured a 7-year term with a fixed-rate at 3.50%, and one year I/O.
"Close management of the financing process enabled us to deliver a seamless transaction, with substantial cash-out, and a material reduction in debt service. The borrowers were very happy,” said Massey Knakal’s Preston Flammang, who exclusively handled this transaction.
Massey Knakal Capital Services provides unparalleled market knowledge that delivers the most creative financing strategies to meet its client needs.MKCS specializes in a variety of debt and equity based real estate financing including fixed/floating rate loans, construction loans, mezzanine loans, bridge loans, preferred equity, and joint-venture equity.