Situation:

On their 4th deal with Asset Based Lending, these investors are purchasing a 14,000 square foot mixed-use property in Rahway, New Jersey. The subject property consists of 7 residential units and 3 commercial units in need of approximately $306,000 worth of renovations. The scope of work includes opening up the floor plans for some of the residential units, as well as converting one of the office spaces back to an apartment. The commercial spaces are currently occupied and the tenants will remain in place.