The loan has a 15-year self-liquidating term, according toStewart. The source of the financing was not disclosed.
Owned by a local group, Fresh Ponds Village is a 120-unit,110,760-sf complex totaling 10 buildings of 12 units each. Theapartments are split between 30 furnished executive units and 90unfurnished units, according to Stewart, and the complex includesan outdoor swimming pool and a variety of other recreationalamenities. The location is near both Route 1 and Exit 8A of the NewJersey Turnpike.
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