PATERSON, N.J. — KeyBank Community Development Lending and Investment (CDLI) has provided $5 million of financing for Radiant Property Management LLC, a Newark-based real estate services company.
The funds will be used to acquire Rosa Parks Apartments, a Section 8 affordable housing property for seniors in Paterson. The five-story building features 50 units.
Radiant Property Management will manage the property following the acquisition. Eric Steinberg of KeyBank’s CDLI team structured the financing.