Cherry Hill 55+ community lands $140M for final phase

Procida lands $140 million refi from Madison, Pearlmark for Cherry Hill residential project – Real Estate NJ

Plaza Grande at Haddonfield Road and Chapel Avenue in Cherry Hill — Courtesy: Procida Funding & Advisors By Joshua Burd Procida Funding & Advisors has secured a $140 million loan to complete and lease up Plaza Grande, a long-awaited age-restricted, 507-unit residential development in Cherry Hill. According to the firm, which took over the project in 2023, Madison Realty Capital and Pearlmark joined forces to provide the financing for the project…

Cherry Hill 55+ community lands $140M for final phase

Procida Funding & Advisors secured a $140 million loan to complete The Plaza Grande in Cherry Hill. Madison Realty Capital and Pearlmark Real Estate LLC provided the financing for the 55-plus community located at 700 Citation Lane. The project represents the final phase of the billion-dollar reinvention of the former Garden State Park racetrack. Commenting on the deal, representatives noted the increasing draw of age-restricted and active adult …