The Kontos Group Secures $2.5M Bridge Loan for Development Site in Raritan Township
The Kontos Group, a ground-up development specialist in New Jersey, secured a $2.5M bridge loan for their 18-acre development site in Raritan Township, which will consist of 211,564 square feet of self-storage and flex industrial space.
The Kontos Group, a New Jersey-based ground-up development specialist, has secured a $2.5M bridge loan from Brunswick Bank & Trust for their development site in Raritan Township. The site, located at 99 US Route 202, will consist of 211,564 square feet of self-storage and flex industrial space across 18 acres within a redevelopment zone.
The loan terms are for 24 months of interest-only payments, providing The Kontos Group with the necessary funding to complete the development project. The property is zoned for redevelopment, which allows for a variety of uses, including self-storage and industrial space.
The Kontos Group, led by Valentino Kontos and Maik Kontos, has a proven track record of successful ground-up development projects in New Jersey. The company specializes in identifying and acquiring underutilized properties and transforming them into high-quality, income-producing assets.
The property’s location in Raritan Township offers easy access to major highways, including Route 202 and Route 31, making it an attractive location for businesses in need of storage or industrial space. The area has seen significant growth in recent years, with a number of new businesses and residential developments popping up in the surrounding area.
The bridge loan was arranged by a team of brokers, who worked closely with The Kontos Group and Brunswick Bank & Trust to secure the necessary financing. The brokers, who have extensive experience in commercial real estate financing, were able to negotiate favorable terms for The Kontos Group, ensuring that the project will be completed on time and within budget.
Overall, the $2.5M bridge loan secured by The Kontos Group for their development site in Raritan Township is a testament to the company’s expertise in ground-up development and their ability to secure financing for high-quality projects. With the necessary funding in place, The Kontos Group is poised to transform the property into a valuable asset for businesses in need of self-storage and industrial space in the growing Raritan Township area.