CBRE said July 10 it obtained $57 million in loans for a 13-property residential and mixed-use portfolio on behalf of One Wall Partners through the Freddie Mac Small Balance Loans Program.
CBRE Vice President Jaspaul Kapoor, secured the financing for OWP, a Newark-based real estate investment and management firm, and according to CBRE, the largest property owner in East Orange.
In four years, Kapoor said, CBRE has exceeded $4 billion in total loan originations through the Freddie Mac program.
“Our team around the country has now closed nearly 1,700 loans, averaging $2.4 million per loan, and has been the top seller in the program for the past two years,” Kapoor said in a prepared statement. “The refinance for our client, OWP, was ideal as it provides flexibility for the ownership.”
The properties – located in Orange, East Orange and Jersey City – are mostly part of a portfolio that OWP purchased for $63 million in 2017, according to CBRE. They include:
• 172 William St. in East Orange
• 69 N. Arlington in East Orange
• 242 and 195 Prospect St. in East Orange
• 157 and 147 Halsted St. in East Orange
• 122 Stevens Ave. in Jersey City
• 209 William St. in East Orange
• 17 Webster Place in East Orange
• 212 Central in Orange
• 57-73 S. Walnut St. in East Orange
• 150 and 157 S. Harrison St. in East Orange