CAMDEN, NJ—Philadelphia-based developer Dranoff Properties has repaid a financing deal with the Delaware River Port Authority transacted more than a decade ago on its luxury apartment project here.
The DRPA reported on Monday that Dranoff repaid the $3-million loan granted 12 years ago to the development firm, along with $1.3 million in interest, according to the Associated Press.
The multifamily project now known as “The Victor,” according to Dranoff's company website, was built in the former RCA Victor building on the Camden waterfront and features 341 apartments.
The property was listed for sale in 2014, but president and founder of Dranoff Properties Carl Dranoff told The Inquirer that the company may retain the property. See story at NorthJersey.com.
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