CLOSED | $95 MILLION IN CONSTRUCTION FINANCING FOR SEQUOIA DEVELOPMENT GROUP FOR A 300-UNIT MULTIFAMILY DEVELOPMENT
June 29, 2022
$95M Construction Financing on 711 Montgomery Multi-family Development
Jersey City, New Jersey
The Carlton Group’s CEO Michael Campbell and Managing Director Kyle Morque announced that they have successfully arranged $95 million in construction financing for Sequoia Development Group for a 300-unit multifamily development at 711 Montgomery St., Jersey City, NJ.
Sequoia Development Group, led by Israel Neiman, is a developer with nearly 20 years of experience in the NYC market.
The financing was provided by Parkview Financial and Montgomery Street Partners. Parkview Financial is a private lender specializing in ground up commercial and residential real estate financing. Montgomery Street Partners is a diversified commercial real estate investment firm with both controlling and non-controlling investments.
“This was a very complex transaction with many moving parts. I want to congratulate everyone involved. This will be a great project for Jersey City.” said Kyle Morque who led the firm’s efforts.