MF1 provided $40 million in permanent financing to the owner of a roughly 200-unit multifamily property in Monmouth County. — Courtesy: CBRE
By Joshua Burd
The owner of a newly built luxury apartment property in Monmouth County has secured $40 million in permanent financing, in a deal arranged by CBRE.
According to the brokerage team, MF1 provided the loan in connection with the roughly 200-unit project at an undisclosed location. Matthew Pizzolato and Josh Stein, members of CBRE’s debt and structured finance group, facilitated the loan on the private borrower’s behalf.
“We’re proud to have supported our client in obtaining financing for one of Monmouth County’s most impressive new residential communities,” Pizzolato said. “Despite current challenges in the interest rate environment, demand from the debt capital markets remains strong for well-located multifamily assets backed by strong sponsors.”
