East Orange, NJ, March 07, 2014 --(PR.com
)-- With a proud history that dates back to the mid-1800’s, the East Orange township of New Jersey has seen its fair share of glory days. Unfortunately, the same city that was once home to famed sharpshooter Annie Oakley and beloved singer Whitney Houston has experienced a recent decline in its population in the last two decades since the 1990 census. 39 Burnett Property, LLC is a renovation and property management firm that is dedicated to returning East Orange to its former glory – one property at a time, and Century Capital Partners is pleased to partner with them in this endeavor. By purchasing and fully renovating East Orange rental properties, 39 Burnett Property, LLC has already witnessed a great deal of success in attracting new residents to the area. Century Capital Partners recently extended a $1.4 million loan to 39 Burnett Property, LLC to support their ongoing efforts to regentrify portions of East Orange.
“This is not the first time we have extended loans to Meir Hillel and his team at 39 Burnett Property, LLC for their work in East Orange,” explains David Hecht, President of New Jersey-based Century Capital Partners. “Based on their prior successes, as well as the strength of both their character and mission, we are delighted to partner with them as they endeavor to restore East Orange’s appeal to new residents. Not many banks and lending institutions are currently extending construction loans due to the present economic climate and recent housing market crash. As a private commercial real estate lending company, Century Capital Partners is able to examine each property and the intended purpose for the loan. We are happy to extend a construction loan to 39 Burnett Property, LLC because they intend to elevate the properties they purchase to a higher level in order to attract a nice clientele to the area. By elevating the property and clientele, it becomes easier to attract more small businesses, shops and restaurants to the area, also.”
After purchasing the 16-unit apartment building located at 39 North Burnett Street in East Orange, 39 Burnett Property, LLC sought a construction loan from Century Capital Partners to be used to fully renovate the property. Prior to this most recent loan, Century Capital Partners was pleased to partner with this company on several other 2- and 3-family rental properties requiring renovation in East Orange.
“East Orange is a community that is rapidly improving thanks to the hard work and dedication of the current city administration and its community partners,” says Meir Hillel, Vice President of 39 Burnett Property, LLC. “Through teamwork, they are encouraging lots of development in the area – just like ours. By providing high-quality renovations and property rehabilitations, we are helping to restore the neighborhood to historic levels and draw new residents to the area. Thanks to the vision and quick action of Century Capital Partners to extend a construction loan to our firm, we expect to have the property at 39 North Burnett Street fully occupied by June 2014.”
Specializing in short term asset-based loans, Century Capital Partners is a leader in the realm of direct lending. Hecht and his associates recognize the fact that each loan they consider presents unique circumstances. To ensure project funding, they work closely with the clients they serve and place a major emphasis on innovation and efficiency. Commitments from Century Capital Partners are often issued within 48 hours, providing their borrowers with the assurance that a competent and trusted lending partner is at hand. All origination fees, including the commitment fee, are paid at closing. In addition to their work in New Jersey – where the company is based – Century Capital Partners also extends loans to borrowers nationwide, with a specific focus in the Tri-State area including Brooklyn and the surrounding boroughs in New York City. Interested parties who have a commercial property investment in which they wish to seek the advice or ultimately involve Century Capital Partners are invited to call 877-335-5464 ext. 101 or email David@centurycapllc.com to discuss their financing needs. To learn more about Century Capital Partners and view their portfolio of recent domestic and international loan projects, please visit http://www.centurycapllc.com.