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/

Butler Ridge & Butler Arms - Butler, NJ

Updated: Sep 12, 2018


Cronheim Mortgage arranged $8,500,000 of financing for two garden apartment developments, Butler Ridge and Butler Arms, in Morris County, New Jersey. The loan was placed with Southern Farm Bureau Life Insurance Company, on behalf of whom Cronheim acts as correspondent and servicing agent. The 10 year loan amortizes over a 25 year period and has a fixed interest rate of 3.16% which was locked 5 months prior to closing.

Butler Ridge encompasses 11 buildings demised into 188 units including studio, one- and two-bedroom layouts while Butler Arms is a free-standing, two-story structure with 30, one-bedroom units. Both developments are afforded convenient access to an excellent network of interstate and state highways including Route 23, a dense commercial corridor in northern NJ, and also to Interstate 287, a partial beltway around New York City. The two properties are located approximately two miles from each other in Butler Borough.

 

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