Cole Schotz Represents Benmark Capital in $38 Million Refinancing of 22-Property Residential Portfolio in Paterson
Cole Schotz represented Benmark Capital in connection with a $38 million refinancing loan secured by a 22-building multifamily portfolio located throughout Paterson, New Jersey.
The transaction encompassed a coordinated financing across 22 separate properties totaling 203 residential units and six commercial units, requiring careful management of title, diligence, loan documentation, and closing logistics across the entire portfolio. At closing, the portfolio was approximately 99% occupied, reflecting strong operational performance and sustained demand within the market.
The Cole Schotz team was led by Leo Leyva and Drew Barone and included Roger Iorio, Robyn Pellegrino, Zachary Alsharif, Denise Krall, Dustin Dorsino, Matthew Asnis, Luisa Nin Reyes, Gwendolyn Goodyear, Jonathan Caban, and Kim Calkin.
As the law continues to evolve on these matters, please note that this article is current as of date and time of publication and may not reflect subsequent developments. The content and interpretation of the issues addressed herein is subject to change. Cole Schotz P.C. disclaims any and all liability with respect to actions taken or not taken based on any or all of the contents of this publication to the fullest extent permitted by law. This is for general informational purposes and does not constitute legal advice or create an attorney-client relationship. Do not act or refrain from acting upon the information contained in this publication without obtaining legal, financial and tax advice. For further information, please do not hesitate to reach out to your firm contact or to any of the attorneys listed in this publication. No aspect of this advertisement has been approved by the highest court in any state.
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