New Jersey Multifamily Recapitalization
East Orange, NJ
- Loan Type: Multifamily recapitalization
- Property: Multifamily complex comprised of 26 units.
- Scenario: Proceeds from Trevian's loan were used to pay off a defaulted and in foreclosure senior loan, establish new reserves at the property level, and return equity to the Sponsor.
- Result: Trevian provides rescue financing to help sponsors save assets from foreclosure. In this case, Trevian helped the sponsor clear off his past issues and start establishing a new payment history.