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Craig Alexander Closes Multi Million Dollar Mortgage Loan

Craig W. Alexander, a partner in the firm’s Real Estate Department, closed a million dollar mortgage loan on behalf of a prominent investor for a commercial building in Essex County, New Jersey. Mandelbaum Salsburg was able to leverage its relationships to assist the client in acquiring the property in an unusual transaction commencing with the purchase of the existing debt, financed by a hard money lender introduced to the client by the firm. The client acquired title to the property after the firm structured a “deed in lieu of” transaction made possible by the firm’s relationship with the lender and title company, followed by a refinancing with an institutional lender also introduced to the lender by the firm.