Live Breaking News & Updates on River Drive Construction

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JLL Capital Markets has arranged a $48 million construction
loan for the development of Phase III of Riverwalk, a luxury residential
community  in Elmwood Park, New Jersey.
Provident Bank and Investors Bank funded the three-year senior
loan while Billy Procida’s 100 Mile Fund provided the preferred equity
financing. Provident Bank and 100 Mile Fund jointly will provide capital to
construct 240 luxury rental units contained in two state-of-the-art residential
buildings overlooking the river and adjacent the existing riverwalk path, with covered
parking.
This next phase of development has already broken ground and
will begin leasing in 18-24 months.
JLL worked on behalf of the borrower, Riverwalk III LLC. BF ....

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