ACRES originated an $8.8 million loan for the construction of a townhome complex in the downtown area of Florham Park, New Jersey. The loan, which carries a term of 24 months, will be used for the construction of a three-building, luxury development featuring:
The Borough of Florham Park is considered a desirable, affluent suburban area near employment centers including New York City and Newark, and locally situated near the suburban office markets of Northern New Jersey.
The location is within walking distance of the neighboring commercial, retail, and restaurant outlets. Approximately 25 miles west of New York City, there is a 35-minute direct train ride into Midtown-Manhattan.
Exantas Capital Corp.is externally managed by ACRES Capital, LLC. The Company’s primary investment strategies include transitional commercial real estate loans and longer duration commercial real estate credit investments, such as commercial mortgage-backed securities. To see more on EXANTAS, click below.