Kaplan Companies has secured $36 million in construction financing for Camelot on Main, a 142-unit luxury mid-rise residential development in Sayreville, N.J.
JLL represented the borrower in securing the three-year, floating-rate loan through Provident Bank.
Camelot on Main Street, located at 925 Main St., will consist of six buildings ranging from three to four stories. The development offers convenient access to major highways, including the Garden State Parkway, U.S. Route 9 and Interstate 95, as well as public transportation via the South Amboy Train Station connecting to employment hubs in Newark and New York City via Secaucus Junction and New York Penn train stations.
The development will feature 134 market-rate and eight affordable housing units, with a blended average unit size of 1,068 square feet. The luxury property will offer high-end finishes including quartz countertops, stainless-steel appliances, gas ranges, island kitchens, in-unit washer/dryers
