CRE-Finance backs residential properties in Ocean, Monmouth

Commercial Real Estate Finance, an Eatontown-based financial provider for the commercial real estate industry, announced it has provided “several” million dollars in commercial loans to finance the development and construction of residential projects in Ocean and Monmouth counties.

“CRE-Finance’s high leverage, low cost of capital and reliability made this project possible,” Richard Kevin, CEO of RKTNJ LLC, said.

The financing, CRE-Finance said, completed a subdivision of homes. The loan was underwritten to 77% of cost and 58% of net sell out value, it said.

“CRE-Finance offers speed, flexibility and certainty of execution to structure custom-tailored solutions to complex situational real estate transactions,” Todd Tretsky managing member, CRE-Finance, said.