Town Title Agency, a full-service title insurance agency based in New Jersey, recently successfully insured three major New Jersey transactions totaling $62 million.
“The multifamily sector throughout the state has shown its resilience coming out of the depths of the pandemic,” said Christopher Rotio, executive vice President of Town Title Agency. “There is a strong demand for value-add multifamily opportunities in New Jersey and we are continuing to see these types of deals at the forefront of our business.”
Town Title insured two major portfolio transactions for ProudLiving Companies, the first a $14 million refinancing of a multi-property portfolio located throughout New Jersey, for which Town Title had previously insured the purchase. IceCap Real Estate Loan Fund I provided the financing on the refinancing. The second portfolio, comprised of eight properties in East Orange, New Jersey, was purchased for $36.2 million, with Arbor Realty Sr., Inc. providing $34.5 million in financing.
The firm also insured the $11.8 million purchase of the Elizabeth Gardens Apartments complex located at 648-654 Jefferson Avenue in Elizabeth, New Jersey. Columbia Bank provided $8.8 million in financing for the buyer, The RMG Group LLC.
