Rising East Orange multifamily secures $24M loan

Lightstone, Friber Group close on $24 million loan for 91-unit East Orange rental project – Real Estate NJ

55 Washington St. in East Orange — Courtesy: Lightstone Capital By Joshua Burd Lightstone Capital has provided a $24 million loan to the developer of a newly built, 91-unit apartment building in East Orange. According to the lender, the financing will support construction and lease-up of the nine-story property at 55 Washington St. The firm said the borrower, Friber Group, has already filled nearly half of the building as it markets a location n…

Rising East Orange multifamily secures $24M loan

Lightstone Capital provided a $24 million loan to support construction and leasing for a new multifamily asset rising in East Orange. The real estate debt platform of the New York-based real estate company announced the financing to Friber Group for the nine-story building at 55 Washington St. April 8. Comprising 100,000 square feet, the property includes 91 residential units. Along with on-site parking, 55 Washington offers a transit-oriented l…