SCALE Lending issued a $150 million construction loan for Beitel Group’s 13-story, 450-unit multifamily project located at 120 East 144th Street in the Bronx’s Mott Haven neighborhood.
SCALE Lending provided the $140 million construction loan to Clipper Equity for its 354-unit community in Brooklyn’s Flatbush neighborhood.
SCALE Lending finalized a $46 million bridge loan for Arris Grand, a newly completed 113-apartment building in Brooklyn’s popular Clinton Hill neighborhood.
SCALE Lending has provided two cross-collateralized loans totaling $243 million for two buildings in Jersey City’s Journal Square neighborhood.
SCALE Lending’s $142 million loan will aid in the completion, lease-up, and stabilization of the 24-story multifamily asset in Jamaica, Queens.
“It has provided a different type of opportunity, stepping into these construction situations that we call completion opportunities. A lot of the construction risk [is] in the rearview mirror and it starts to feel a lot more like a completion-bridge loan as opposed to ground-up construction finance.”
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