Waterside Villas, Monroe Township, NJ
NEW YORK CITY—Sela Realty has received a $16.5 million Freddie Mac Program Plus loan for the acquisition of a 100-unit senior living community in NJ. Greystone’s John Williams and Ephraim Kantor in the New York office originated the loan for the buyer, Sela Realty. Adam Zweibel of Gebroe-Hammer was the broker.
The $16.5 million Freddie Mac loan carries a 10-year term and 30-year amortization, with a low, fixed-interest rate and interest-only payments for the first five years.
Built in 2009, Waterside Villas is a three-story complex with studio, one- and two-bedroom units with modern amenities for adults 55 and older. It’s located in the Concordia neighborhood of the Monroe Township, NJ.
The property is situated near Princeton and other historic communities and is midway between New York City and Philadelphia. The location provides easy access to the NJ Turnpike and other major highways and roadways.
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Betsy Kim
Betsy Kim was the bureau chief, East Coast, and New York City reporter for Real Estate Forum and GlobeSt.com. As a lawyer and journalist, Betsy has worked as the director of editorial and content for LexisNexis Lawyers.com, a TV/multi-media journalist for NBC and CBS affiliated TV stations in the Midwest, and an associate producer at Court TV.
