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Deerwood Closes $9M Bridge Loan for New Jersey Office Property

Deerwood-Montvale-NJ

Located in Montvale, N.J., the multi-tenant property features 100,000 square feet of office space.

MONTVALE, N.J. — Englewood Cliffs, N.J.-based Deerwood Real Estate Capital has closed a $9 million non-recourse bridge loan on a multi-tenant office building, located at 50 Chestnut Ridge Road in Montvale. The 100,000-square-foot office building was acquired by the borrower, a private investor group, from C-III, on behalf of US Bank, as a foreclosure. Yaakov Leiser of Deerwood negotiated the financing, which was provided by a regional bridge lender.

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