By Joshua Burd
Valley Bank has provided $2.2 million in financing to the buyer of a fully occupied 12-unit residential property in Bradley Beach.
According to the lender, the undisclosed asset offers immediate, stabilized income with additional upside potential through future enhancements. The borrower is a repeat client, as Valley’s Chris Coiley noted in a recent LinkedIn post announcing the mortgage.
“Kudos to Jamie Payne for successfully bringing this deal to the finish line and expanding an important client relationship,” Coiley, the bank’s regional president for commercial real estate, wrote in the post earlier this week. He also cited the work of Celmira Nasuto, a lending specialist, and the role of Valley’s Anthony Sorrentino in underwriting.
