ESSEX COUNTY, NJ-David Trager, president of Chatham, NJ-basedTarget Capital LLC, recently closed a short-term acquisition anddevelopment loan on a partially completed for-sale town homecommunity here. According to Trager, the loan is "a commitment inexcess of $4 million."

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He goes on to add that "Target Capital continues to seeopportunities for both investors and lenders as the realestate market and general economy continue on a path ofuncertainty."

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In this case, Target Capital's borrowers had an opportunity tosimultaneously acquire both the prior lender's mortgage loan andfee title from the prior property owner. Most importantly, Tragertells GlobeSt.com, "the borrower needed a lender able to closequickly and understand the complexities of a broken for-saleresidential project that included multiple lien holders andapproval, construction and development issues.

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Target Capital is a private lender that serves real estateowners, builders and investors in New Jersey and Pennsylvania. Itlocates capital for acquisitions, repositioning, pre-acquisitionland entitlement, land development, construction, bankworkouts, foreclosures, partner buyouts, mortgage acquisitions andvacant buildings.

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