Florham Park, NJ
Multifamily - Development
ACRES Capital, LLC (“ACRES”) is pleased to announce the funding of a construction loan for the development of 3, 16-unit residential, for the townhouse project located in the Florham Park, NJ. Once renovated, the property will consist of 44,481 net sellable square feet. The townhouses will have similar floorplans with 3 bedrooms, 2 full bathrooms and 2 half bathrooms, totaling approximately 3,000 square feet per unit. Each of the units will have a private driveway and interior parking garage.
“ACRES is pleased to partner with a highly experienced Sponsor for the development of these townhomes. Florham Park is an ideal market for this project which lacks new supply of townhomes geared towards empty nesters and young professionals,” according to Mark Fogel, President and CEO of ACRES.
ABOUT ACRES CAPITAL
ACRES Capital is a direct lender operating on a nationwide platform. The company seeks opportunities in the $4 million to $50 million range on stabilized or distressed properties including Multifamily, Retail, Office, Hospitality, Industrial and New Construction. For more information please visit www.acrescap.com.