Century Capital Partners has closed on a construction loan that will finance the renovation and polishing of a run-down multi-use building in a prime location in East Orange, New Jersey.
The New Jersey-based, hard-money lender has closed on a $1.2 million construction loan for 70 City Hall Plaza, a three-story apartment and retail rental. The building is a prime location for a commercial real-estate investment, situated next door to the Borough Hall, across the street from a train station and near East Orange’s primary shopping district.
This is Century Capital’s second asset-based loan to property owner Meir Hillel for renovations to 70 City Plaza. The loan will allow for completion of the construction at this location. Already, the cleanup has been a significant urban renewal project. A restaurant and a childcare facility are in negotiations to rent the ground-floor retail spaces.
Century Capital is proud to back a project that will promote East Orange, said David Hecht, Century Capital President.
Ongoing work at 70 City Plaza is a real-time example of Century Capital’s success as a private, nontraditional lender. Century Capital serves clients who seek creative financing solutions for construction and real-estate projects that are viable, but do not necessarily meet the tight restrictions and tall hurdles present in today’s conventional lending realm.
Century Capital facilitates commercial lending domestically and globally, with projects stretching from Puerto Rico to Sicily; Florida to California.
Century Capital works closely with clients, emphasizing innovation and efficiency. To learn more about Century Capital Partners, please visit www.centurycapllc.com, call 877-335-5464, ext. 101, or firstname.lastname@example.org.