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Case Study | Union City, NJ

Investment Type

Condo Inventory Loan – Refinance

Property Description

Residential Condominium

Location

Union City, NJ

Loan Amount

$14,000,000

Stormfield provided a $14,000,000 condo inventory bridge loan secured by thirty-one new construction residential condominiums in Union City, NJ. The sponsorship group utilized Stormfield’s loan to payoff the maturing debt and recoup equity held in the subject property to show adequate liquidity for a separate development. Stormfield’s structured the repayment schedule to 95% of the net proceeds from the sale of each condominium.

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Wesley W. Carpenter

Co-Founder & Partner

Wesley Carpenter is a Founder and Partner of Stormfield Capital, LLC. At Stormfield, Wes leads the firm’s investment strategy and portfolio management. He serves on both the management and investment committees and plays a central role in credit and risk oversight across the platform. Under his leadership, Stormfield has deployed over $1.75 billion, spanning the origination, acquisition, and asset management of commercial and residential bridge loans.

Wes brings more than 15 years of experience in real estate credit and structured finance. Prior to founding Stormfield, he was a Vice President at Greenwich Associates, a boutique consultancy specializing in the financial services sector, where he advised senior executives at commercial and investment banks on balance sheet optimization and the adoption of structured credit strategies. He began his career in Corporate Development at Illinois Tool Works (NYSE: ITW), where he focused on M&A and strategic growth initiatives across the firm’s global industrial portfolio

Wes holds a B.S. from Fairfield University and an M.B.A. from Binghamton University.