Mountain Funding's mezz facility is subordinated to a nearly $15.2 million senior construction loan. The money will fund project costs that were not available under the senior loan, according to Peter J. Fioretti, president and CEO of Mountain Funding.
"Enchantment is an example of our desire to capitalize solid residential land developments," according to Fioretti, who notes that the project is located about 10 miles east of Trenton, NJ. "Robertson Douglas has proven itself to be a top-tier provider of quality housing in the New Jersey markets where it operates. We are already in commitment to a second project with them."
Mountain Funding, based in Charlotte, NC, has its New Jersey offices in Princeton.
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