Loan Portfolio
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Multi-Family Property
Acquisition & Renovation
Newark, NJ (
$770,000)
Advest Financial recently announced that its private lending fund, the Advest Short Duration Real Estate Fund I, has provided a $770,000 loan in Newark, NJ.
The six-unit shell calls for an extensive gut renovation and has an ARV of $1,100,000. Permanent financing is in place as soon as the property is stabilized. The investor is a repeat customer of Advest and has a successful track record of acquiring and managing rental properties.