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REA
December 11, 2019  

Equity Sought for NJ Rental Project

A developer is seeking an equity partner for a Northern New Jersey multi-family development.Iron Ore Properties has a deal in place to buy a roughly 2-acre site in Plainfield for just under $10 million. It wants an investor to pay for the land and form a joint venture that would borrow roughly $25 million to build a 120-unit apartment property. The site is in a federal opportunity zone, so an investor could be eligible for a reduction in...


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