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Valley closes $15 million construction line of credit for 78-unit Bayonne rental project – Real Estate NJ
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Valley closes $15 million construction line of credit for 78-unit Bayonne rental project – Real Estate NJ
The Bayonne Bridge By Joshua Burd The developer of a 78-unit multifamily project in Bayonne has closed on a $15 million construction line of credit with Valley Bank, the lender announced last week. The financing, originated by Valley’s Alfred Sorrentino, will help expand the supply of market-rate apartments at the former Military Ocean Terminal property in the city. That will add to an area that has seen hundreds of new rental units built in rec…
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