Carlton Group Secures $46M Financing for 144-Unit Apartment Complex in New Jersey
Queen’s Gate Apartments in Bound Brook, N.J., features 144 residential rental units.
BOUND BROOK, N.J. — The Carlton Group has arranged $46 million in high-leverage first mortgage financing for Queen’s Gate Apartments, a recently built 144-unit apartment complex in Bound Brook. The stretch senior loan allowed the undisclosed borrower to pay off its construction financing and cash out of the project before the property reaches stabilization. Steven Weiss and Jeff Kosow of The Carlton Group negotiated the three-year loan for the borrower.