NATIONAL FOOTPRINT

Backed by a century’s worth of knowledge and expertise, Cronheim Mortgage provides a vast array of real estate services, including debt and equity for investment grade real estate. By leveraging the strong correspondent and/or servicing relationships we have cultivated with our institutional investors, including many insurance companies, we have continuously had access to substantial debt and equity capital to invest in quality real estate at pricing well below alternative sources, especially for long-term debt. We stand out from our competitors with our strong debt servicing portfolio, currently in excess of $2,000,000,000.  Moreover, through our Channel Real Estate Funds affiliate, we have efficiently and cost-effectively provided mezzanine and equity capital for numerous real estate assets. We have placed debt/equity and serviced in 30 states, and continue to capitalize on new opportunities.

REPRESENTATIVE TRANSACTIONS

To view more of our hospitality representative transactions, please visit our hospitality branch, CRONHEIM HOTEL CAPITAL, at http://www.chccapital.com/

$20MM, 20/25, 3.44% Forward for Summit, NJ Apartments



Cronheim Mortgage secured $20 million of financing for a 133-unit garden apartment development located in Summit, Union County, New Jersey. The loan, which was structured on a 20-year term with a 25-year amortization and has a fixed interest rate of 3.44%, was placed with Voya Retirement Insurance and Annuity Company, on behalf of whom Cronheim acts as correspondent and servicing agent. The interest rate was locked 5.5 months prior to closing.

The Subject encompasses 16, 2- and 3-story brick walk-up apartment buildings with both garage and surface parking. There is a mixture of 1-, 2-, and 3-bedroom layouts which have recently been renovated and include a washer and dryer, video intercom security entry system, hardwood floors throughout, walk-in closets, and basement storage units. There is also an onsite pool and outdoor entertainment area.

Summit is one of the most affluent towns in NJ with strong demographics and top-rated schools. The property is a short walk from the heart of downtown Summit which offers a variety of restaurants, boutique shops, businesses, and other services. The downtown also has a train station which is a major commuter hub, affording passengers express service to New York's Penn Station in 40 minutes.

 

© 2018 by Cronheim Mortgage. Proudly created by FedUp Digital.

  • Cronheim Mortgage LinkedIn