CHERRY HILL, N.J. — Procida Funding & Advisors has secured a $140 million loan for the completion of the development of The Plaza Grande, a new active adult community currently underway in Cherry Hill.
Madison Realty Capital and Pearlmark provided the financing. Madison Realty Capital also provided a construction loan for the project in 2021.
Upon completion, The Plaza Grande will comprise 507 units for residents age 55 and older. Amenities at the community, which will feature an 18,500-square-foot clubhouse, will include indoor and outdoor pools, tennis courts, pickleball courts, theaters, indoor golf, sauna and massage rooms and lounge areas.
Situated within the Garden State Park mixed-use district, the property is situated 15 minutes from downtown Philadelphia.