Bordered by Hale and Heinrich streets and Meeker Ave. in this Union County community, the 3.07-acre land parcel is currently approved for a total of 26 townhouse-style condo units. The site is located just off the Garden State Parkway. Palisades Financial, based in Englewood Cliffs, NJ, has provided an acquisition bridge loan

"This transaction is an illustration of flexibility in meeting borrowers' needs," says Mark Zurlini, president of Palisades Financial, an investment banking and advisory firm. "We were confident that this borrower would be able to secure the proper county and state permits that were required to complete the project improvements.

"The loan was referred to us by one of our relationship banks," Zurlini says, adding that once the necessary permits were received, that bank would provide the market rate financing to repay the loan. "We are willing to work with the local and regional banks to assist their clients, which enables them to close deals that normally they would have to pass up."