"The deal gives the borrower significant flexibility in terms of the repair schedule and payment to accomplish the complex rehabilitation," according to Justin Peyser, vice president and director at CPC's Jersey City office. "CPC's New York office specializes in tenant in-occupancy repairs, and we are now seeing this business model successfully implemented in New Jersey."
Renovations to the Chestnut Lane Apartments will include roof repairs, landscape improvements and a new parking lot, among other things, according to Peyser.
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