Print??|?Transactions Include Permanent and Construction Loans for Projects in New Jersey and New York
LIVINGSTON, N.J., July 26, 2012 ? Mark Scott?s Commercial Mortgage Capital (CMC), a leader in real estate finance that arranges permanent, construction and mezzanine loans for a wide range of commercial properties including multi-family, office, retail, industrial and healthcare facilities primarily in New York, New Jersey and Connecticut, announced that it has closed $88.9 million worth of loans during the first six months of 2012.?We are pleased to announce our latest Commercial Mortgage Capital transactions, which support our strategy of arranging financing for multi-family real estate projects in the Tri-State region,? said Mr. Scott, Founder and Principal of CMC. ?These loans speak to our ability to facilitate the proper financing structure for a range of borrowers in an expedited manner. We understand the competitive marketplace and offer quick turnaround as well as responsive and professional guidance throughout the entire loan process.?
These geographically diverse deals throughout the region showcase Mr. Scott?s intimate knowledge and command of the local markets. Given today?s financial climate, where deal closings can take months, Mark Scott?s Commercial Mortgage Capital has been able to bring these transactions to market quickly and with an unparalleled attention to detail. The six most recent transactions that closed were:
- Edgewater Harbor ? Building F ? Multi-family, Retail ? Edgewater, NJ
Mark Scott?s Commercial Mortgage Capital arranged a $14-million construction loan for a specialty real estate development and investment firm that focuses on the redevelopment of corporate and industrial sites. The loan will finance the construction of Building F at Edgewater Harbor, a 24-acre, luxury mixed-use project on New Jersey?s Gold Coast. The five-story mixed-use building anchoring Edgewater?s Main Street contains approximately 9,647 square feet of ground-floor retail and four stories of 52 residential units. Eighty-seven percent of the 9,647 square feet of retail space has an agreed upon letter of intent or one that is in progress.
- Andrew?s Corner ? Multi-family ? Lakewood, NJ
Mark Scott?s Commercial Mortgage Capital arranged a $14.2-million permanent loan for a partnership consisting of New Jersey developers who own thousands of multi-family units across the state as well as several million square feet of industrial and office space in New Jersey and Pennsylvania. The loan is for Andrew?s Corner, a six-building, 148-unit luxury apartment community located at 1 Lisa Robyn Circle in Lakewood, NJ. The property is well-suited for commuters, with easy access to Routes 9 and 70 as well as the Garden State Parkway and I-95.
- Dartmouth Village Apartments ? Multi-family ? Parsippany, NJ
Mark Scott?s Commercial Mortgage Capital arranged a $9.5-million self-liquidating first mortgage loan for Dartmouth Village, LLC?s Dartmouth Village Apartments in Parsippany, NJ. The borrowing entity is largely comprised of family-led owners of single and multi-family homes in New Jersey. The Dartmouth Village garden apartment complex consists of 222 units housed in eight buildings, including 38 one-bedroom apartments, 130 one-bedroom units with dining rooms and 54 two-bedroom spaces. Parsippany, which is located in the northeastern portion of Morris County, is a densely populated and affluent bedroom community of Manhattan. The town?s close proximity to New York City and other major employment centers in New Jersey has resulted in its excellent reputation among residences and businesses. Parsippany is now home to more than 70 major firms, including Novartis Corporation and Prudential.
- River Bend at Wappingers Falls (Phase 2) ? Multi-family ? Wappingers, NY
Mark Scott?s Commercial Mortgage Capital arranged an $8-million LIBOR-based construction loan for Riverbend at Wappingers, LLC, which was formed specifically to build, own and manage the luxury apartment complex, River Bend Wappingers Falls. The principals are New Jersey developers who have constructed thousands of several residential for sale and rental units in large multi-family apartment complexes, many of which they continue to manage. The loan will finance the second phase, named Wappingers II, of this highly successful project; phase one was completed in early 2009. The fully leased property consists of 10 apartment buildings containing 124 units that are divided into 35 one-bedroom and 89 two-bedroom spaces. Located on Marshall Road in Wappingers Falls, NY, the property is situated in the heart of the Hudson Valley.
- Columbia Court ? Multi-family ? Springfield, NJ
Mark Scott?s Commercial Mortgage Capital arranged a $7.8-million permanent first mortgage loan for Columbia Court, which is owned and managed by a prominent New Jersey family partnership. The financing is for luxury apartment complex Columbia Court, which is located on 50 Maple Avenue in the affluent suburban community of Springfield, NJ, part of Union County. The property consists of two adjoining three-story buildings containing 74 units ? three studios and three-bedroom apartments, 17 one-bedroom units and 55 two-bedroom spaces.
- Multi-family Property ? Camden County, NJ
Mark Scott?s Commercial Mortgage Capital arranged a $5.5-million permanent first mortgage loan for a 148-unit apartment complex in Camden County, NJ, which is home to some of the most developed communities in Southern New Jersey and 12 miles southeast of Center City Philadelphia.
Mr. Scott brings principal attention to each deal, which enables the firm to deliver loan solutions that meet the unique financial goals of all the parties involved. Since launching the firm in 1996, he has arranged over $3.7 billion of debt and equity financing. He has deep roots in the financial and banking sectors, which includes time spent as Senior Vice President and Managing Director at NorthMarq Capital as well as Director of Product Origination and Marketing for the Commercial Mortgage Backed Securities (CMBS) and Finance Group at Barclays Capital. Mr. Scott also established a new division for Weichert Commercial, known as Weichert Commercial Mortgage, and was a top producer at CBRE in 1994. He began his real estate finance career at Chase Manhattan Bank in the 1980s.
Mark Scott?s Commercial Mortgage Capital
Since its inception in 1996, Mark Scott?s Commercial Mortgage Capital (CMC) has been a leader in real estate financing ? arranging permanent, construction and mezzanine loans for a wide range of commercial properties including multi-family, office, retail, industrial and healthcare facilities primarily in New York, New Jersey and Connecticut. During this time, Mr. Scott has personally arranged over $3.7 billion of debt and equity financing. He understands the competitive marketplace and offers quick turnaround as well as responsive and professional guidance through the entire loan transaction. Mr. Scott can be reached at 973.716.0006 ormscott@newcommercialmortgage.com. www.newcommercialmortgage.com
Photo of Mark Scott:
www.ereleases.com/pic/Mark-Scott.jpg
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