Developer Bayonne Equities BII Urban Renewal has sealed $46 million of construction financing to complete a 10-story residential development in Bayonne, N.J., Commercial Observer has learned.
Bravo Property Trust, a balance sheet bridge and construction lender affiliate of Bravo Capital, supplied the floating-rate loan on the Bayonne Equities’ Allora project slated for completion in spring 2025, according to the company. The transaction represents a 70 percent loan-to-cost, Bravo Property Trust said.
