M&T Realty Capital Corporation® recently placed a $29,000,000 permanent loan secured by a newly built, 58-unit luxury multifamily property developed by PCD Development, LLC of New Providence. The 10-year term offered two years of interest only and rate locked in Q1 with Kearny Bank. John Taylor and Donna Falzarano of M&T Realty Capital’s NJ office placed the financing.
30 Court, within walking distance of the “Morristown Green”, has set the bar in Morris County for apartment living in terms of luxury and proximity to Morristown’s CBD. Apart from best-in-class finishes and amenities, 30 Court provides spacious rental units the likes of which aren’t found elsewhere in the market. The property is located one block from Morristown’s CBD offering numerous shopping and restaurants as well as a NJ Transit Station stop with direct access to NY Penn Station.
“We are really happy to have secured an extraordinary rate for our Borrowers for this fantastic asset. Kearny Bank provided the best terms available in the market and our clients were very pleased with Kearny’s execution as promised”, said Taylor.