09/30/2026
The property was fully leased. The sponsor still needed liquidity.
Contractors and vendors on another project needed payment. The sponsor had substantial equity in a performing Long Island asset.
Nectar helped put that equity to work with $600,000 in financing.
The deal:
• 22 apartments and 12 retail spaces
• 100% occupancy
• Approximately $4 million invested in property improvements
• 36-month financing term
• Existing 3.75% senior mortgage preserved
The sponsor brought more than 40 years of local development experience and over 700 residential units delivered.
The strategy: use a stabilized asset to support immediate contractor and vendor payments on a separate redevelopment project, while retaining property upside.
That is the flexibility Nectar provides. Performing portfolio assets can support the capital needs of a sponsor’s broader business.
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