Capodagli Property Company secured a $75 million bridge loan from Scale Lending to continue its 294-unit multifamily development in Little Ferry, New Jersey. The loan replaces a previous $71 million construction loan and has an 18-month term with options for two six-month extensions. The project, located at 110 Bergen Turnpike, includes a mixed-use building with over 8,000 square feet of retail space and 294 parking spaces. The development is expected to receive temporary certificates of occupancy by the third quarter of 2024 and benefits from New Jersey’s PILOT program, capping real estate taxes for 30 years.
Capodagli Property Company
