LOVE FUNDING CLOSES $20.9 MILLION REFINANCE LOAN

HOBOKEN, N.J. — Love Funding has closed a $20.9 million loan to refinance Clock Tower Apartments, a 173-unit apartment community in Hoboken. Laura Saull-Smith of Love Funding's Washington, D.C. office secured the financing through a U.S. Department of Housing and Urban Development loan program. The program will enable the borrower, Jefferson Adams Rehab Co., to preserve rent-subsidized units at the property and fund more than $2 million in repairs and reserves.