Meridian Capital Group has successfully secured an $18,375,000 construction-to-permanent loan for the construction of a 75,000-square-foot office building located at 680 Bennetts Mill Rd. in Jackson, NJ. The deal was facilitated by managing director Paul Gilbert on behalf of Towne Companies.

The financing, provided by First Commerce Bank, offers a 12-month construction period with interest-only payments, which can be extended through two six-month options. After completion, the loan will convert into a 30-year permanent mortgage with competitive terms. The lender is also providing a comprehensive financial package, which covers both site improvements and hard construction expenses.

“First Commerce Bank demonstrated an exceptional level of dedication throughout this process, taking the time to truly understand the deal, the market and all the nuances involved,” said Gilbert. “This deal was anything but cookie-cutter, with many complexities, including township land hurdles, that required thoughtful navigation. It was in the works for quite some time, but the end result reflects the seamless collaboration of all parties involved.”