Eastern Union Funding Arranges $52.3M Acquisition Loan for New Jersey Multifamily Property
Situated on 171 acres in Deptford, N.J., Narraticon features 443 rental apartments and townhomes.
DEPTFORD, N.J. — Eastern Union Funding has arranged $52.3 million in senior debt of behalf of Redstone Equities for the acquisition of Narraticon, a multifamily community in Deptford. David Singer of Eastern Union Funding arranged the senior debt, which features a floating rate, with a Freddie Mac seller/servicer. The 171-acre development features 443 rental apartments and townhomes, ranging from one- to four-bedroom layouts. Community amenities include a saltwater pool, lighted tennis courts, fitness center, sauna and a clubhouse with billiards, televisions, a library and complimentary WiFi.