In the larger of the two transactions, Stewart arranged a $15 million loan for the 1354-1370 US Route 202 Apartments in Branchburg, Somerset County, NJ. Cronheim also acted as mortgage correspondent and servicing agent for the 15-year fixed-rate financing, which was arranged for borrower S/K Old York Road Associates LP. The 277-unit luxury complex was completed in 1995.
In the second transaction, $7.9 million in permanent financing was placed for borrower Southgate County in South Jersey, the 200-unit garden-style complex consists of 13 two-story buildings on 18 acres. Completed in phases between 1962 and 1964, Southgate Apartments has undergone a number of recent improvements.
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to asset-and-logo-licensing@alm.com. For more information visit Asset & Logo Licensing.
