Private Commercial Real Estate Lender

New Jersey, Connecticut, New York, Delaware, Pennsylvania & Florida

About Us

Established in 2011, Summit Capital Partners, L.P. is a direct, non-bank, commercial real estate lender specializing in construction and bridge financing. Summit was created to provide timely and innovative solutions for commercial real estate transactions that do not fall within the boundaries of today’s conventional financing. The founding members of Summit share 150 years of experience developing, acquiring, and investing in residential and commercial real estate throughout the Philadelphia and New York metro area. This experience provides borrowers with the insight and flexibility not offered by traditional lending institutions. Simply put, Summit can navigate where traditional lenders cannot.

Barry R. Mandelbaum

Mr. Mandelbaum is the founding member and president of New Jersey and New York based law firm, Mandelbaum Salsburg, and has more than four decades of legal experience. For more information on Mr. Mandelbaum and Mandelbaum Salsburg, please visit:
lawfirm.ms

Donald Witmondt

As Chairman of Woodmont Properties, Mr. Witmondt has been active in the New Jersey real estate industry for over 50 years. Throughout his career, Mr. Witmondt has purchased and developed high quality residential and commercial properties and, in the process, has attained an outstanding reputation among his peers and the financial community. For more information on Mr. Witmondt and Woodmont Properties, please visit:
woodmontproperties.com

Michael Wolfson

A successful entrepreneur, Mr. Wolfson has been investing in real estate for over 35 years, including with Summit's predecessor - Apple Chase Partners.

Robert J. D’Anton

Mr. D’Anton has been active in real estate development for over 30 years. Since beginning his real estate career as a single-family homebuilder, Mr. D’Anton has acquired and developed high-end conventional and affordable multifamily, office and industrial properties both for his own account and on behalf of municipalities, corporate and government entities. For more information on Mr. D’Anton and AST Development, please visit:
astdevelopment.com

Financing Programs

Acquisition and Construction Financing

Whether a 20-lot subdivision, single family spec home, or warehouse facility, Summit provides today’s builders and investors with the capital and flexibility needed to pursue their project.

Case Study

Verona, New Jersey

Through a staged transaction, Summit was able to assist in the redevelopment of a 4-lot subdivision in Verona, NJ. The 1.3 acre parcel required significant clean up to address historical activities on the property. Ultimately, Summit leveraged the value of the land use approvals and perfected subdivision to provide the Borrower with the financing necessary to create a marketable property. Prior to closing on the remediation loan, Summit established an exit strategy by identifying a local single-family home builder. Upon completion of the remedial activities, Summit provided the builder with $800,000 in acquisition financing and a construction revolver of $350,000 per house.

Bridge Financing
 

Summit Capital provides short-term funding to allow operators and owners to enhance values, complete construction, upgrade quality and otherwise become eligible for conventional financing.

Case Study

Lewes, Delaware

Secured through a first position leasehold mortgage, Summit provided $1.8 million in bridge financing to help advance a multi-phase mixed use community in Lewes, DE featuring 900 residential units and several thousand square feet of service retail. Upon successfully completing phase one, the developer required additional financing to further the project and carry the property until conventional debt was secured.

Remediation Financing
 

Summit’s environmental remediation platform offers borrowers the opportunity to realize the full value of their property. Avoided by most conventional and private lenders, Summit works closely with the borrower and its consultants to efficiently navigate the specifics of each remediation plan.

Case Study

Somerset, New Jersey

Summit provided $2,750,000 in acquisition, construction and remediation financing for a 76,000 sq. ft. vacant warehouse facility plagued by contamination and years of neglect. In collaboration with the Borrower and its consultants, Summit was able to quickly navigate the complicated elements of the deal and proceed to closing. The Borrower successfully completed the improvements and remediation in less than one year and sold the property for a significant gain.

The Summit Difference

Underwriting and loan documentation is pursued on a fast track basis. Closing can occur in as little as 10 days for new borrowers and 5 days for existing.

Ability to make loans without having to rely on outside sources for funding.

Committed to protecting brokers 100% of the time.

The draw process is efficiently managed by our in-house loan administrator and inspector.

Loan Criteria

$500,000 - $15,000,000

Interest Rates:
Starting at 9.5%
Loan Term:
Up to 2 years with extension options
Loan-to-Value:
Up to 80%
Loan-to-Cost:
Up to 90%
Fees:
Starting at 2%
Closing:
5 - 45 Days
Brokers:
Protected
Property Types:
All types considered

Recent Closings

With nearly $300 million originated since 2012, listed below are several representative transactions.

Single Family Spec

Middletown, NJ

Amount
$685,000
Loan Type
Acquisition
Construction

Single Family Spec

Middletown, NJ

Amount
$800,000
Loan Type
Acquisition
Construction

Single Family Spec

Colts Neck, NJ

Amount
$900,000
Loan Type
Acquisition
Construction

9 Lot Subdivision

Neptune, NJ

Amount
$1,300,000
Loan Type
Acquisition
Construction
Revolver
Site Improvements

9 Lot Subdivision

Freehold, NJ

Amount
$3,000,000
Loan Type
Acquisition
Construction
Revolver
Site Improvements

17 Lot Subdivision

Marlboro, NJ

Amount
$4,897,000
Loan Type
Acquisition
Construction
Revolver
Site Improvements

Single Family Spec

Marlboro, NJ

Amount
$600,000
Loan Type
Acquisition
Construction

6 Lot Subdivision

Neptune, NJ

Amount
$1,800,000
Loan Type
Acquisition
Construction
Revolver

27 Lot Subdivision

West Orange, NJ

Amount
$1,300,000
Loan Type
Site Improvements

9 Building Lots

Livingston, NJ

Amount
$2,000,000
Loan Type
Acquisition

2 Lot Subdivision

Bedminster, NJ

Amount
$1,200,000
Loan Type
Acquisition
Construction

4 Lot Subdivision

Verona, NJ

Amount
$2,000,000
Loan Type
Acquisition
Revolver
Remediation

Single Family Home

Little Silver, NJ

Amount
$1,270,000
Loan Type
Acquisition
Construction

Single Family Spec

Little Silver, NJ

Amount
$1,200,000
Loan Type
Acquisition
Construction

Single Family Spec

Little Silver, NJ

Amount
$1,140,000
Loan Type
Acquisition
Construction

Warehouse Renovation

Franklin, NJ

Amount
$2,750,000
Loan Type
Acquisition
Construction
Remediation

15 Unit Townhome Development

Howell, NJ

Amount
$1,050,000
Loan Type
Acquisition

Approved Master Planned Community

Milton, DE

Amount
$3,750,000
Loan Type
Bridge

Triplex Renovation

Jersey City, NJ

Amount
$650,000
Loan Type
Construction

Single Family Spec

Ocean City, NJ

Amount
$1,700,000
Loan Type
Acquisition
Construction

Single Family Spec

Manalapan, NJ

Amount
$600,000
Loan Type
Acquisition
Construction

Single Family Home

Sea Girt, NJ

Amount
$1,850,000
Loan Type
Acquisition
Construction

Single Family Spec

Sea Girt, NJ

Amount
$1,325,000
Loan Type
Acquisition
Construction

Approved Assisted Living Facility

Evesham, NJ

Amount
$1,000,000
Loan Type
Bridge

20 Lot Subdivision

Carney, PA

Amount
$650,000
Loan Type
Acquisition
Site Improvements

Model Home

Carney, PA

Amount
$400,000
Loan Type
Construction

Single Family Spec

Princeton, NJ

Amount
$1,250,000
Loan Type
Acquisition
Construction

Single Family Spec

Rumson, NJ

Amount
$1,575,000
Loan Type
Acquisition
Construction

Single Family Spec

Rumson, NJ

Amount
$1,500,000
Loan Type
Acquisition
Construction

Single Family Spec

Rumson, NJ

Amount
$1,850,000
Loan Type
Acquisition
Construction

Single Family Spec

Rumson, NJ

Amount
$1,035,000
Loan Type
Acquisition
Construction

Single Family Spec

Rumson, NJ

Amount
$1,300,000
Loan Type
Acquisition
Construction

Single Family Spec

Rumson, NJ

Amount
$1,750,000
Loan Type
Acquisition
Construction

Single Family Spec

Colts Neck, NJ

Amount
$1,200,000
Loan Type
Acquisition
Construction

Single Family Spec

Middletown, NJ

Amount
$750,000
Loan Type
Acquisition
Construction

Single Family Spec

Fair Haven, NJ

Amount
$1,015,000
Loan Type
Acquisition
Construction

11 Lot Subdivision

Middletown, NJ

Amount
$3,520,000
Loan Type
Acquisition
Construction
Revolver
Site Improvements

Single Family Spec

Bay Head, NJ

Amount
$1,800,000
Loan Type
Acquisition
Construction

17 Lot Subdivision

Moorestown, NJ

Amount
$2,500,000
Loan Type
Bridge

Model Homes

Goshen, NY

Amount
$650,000
Loan Type
Construction

Approved 109 Unit Subdivision

East Windsor, NJ

Amount
$2,000,000
Loan Type
Bridge

Single Family Home

Fort Lauderdale, FL

Amount
$2,700,000
Loan Type
Bridge

8 Unit Apartment Community

Montclair, NJ

Amount
$1,200,000
Loan Type
Bridge

Multi Family Development

Bordentown, NJ

Amount
$5,000,000
Loan Type
Mezzanine

22 Unit Townhome Development

Red Bank, NJ

Amount
$5,665,000
Loan Type
Acquisition
Site Improvements
Construction

Mixed Use Development

Lewes, DE

Amount
$1,800,000
Loan Type
Bridge

31 Lot Subdivision

Bristol, CT

Amount
$1,195,000
Loan Type
Acquisition

300 Lot Single Family Subdivision

Milton, DE

Amount
$6,475,000
Loan Type
Site Improvements
Revolver

120 Lot Single Family Subdivision

Millsboro, DE

Amount
$1,650,000
Loan Type
Site Improvements
Revolver

8 Lot Subdivision

Tinton Falls, NJ

Amount
$2,350,000
Loan Type
Acquisition & Revolver

Flex Building

Mine Hill, NJ

Amount
$625,000
Loan Type
Acquisition

Single Family Home

Prospect Park, PA

Amount
$200,000
Loan Type
Construction

Single Family Spec

Spring Lake, NJ

Amount
$1,387,000
Loan Type
Acquisition
Construction

Single Family Spec

Spring Lake, NJ

Amount
$1,200,000
Loan Type
Acquisition
Construction

Single Family Spec

West Long Branch, NJ

Amount
$470,000
Loan Type
Construction

Single Family Spec

Bryn Mawr, PA

Amount
$1,200,000
Loan Type
Acquisition
Construction

Single Family Spec

Manalapan, NJ

Amount
$637,500
Loan Type
Acquisition
Construction

Single Family Spec

Media, PA

Amount
$800,000
Loan Type
Acquisition
Construction

Single Family Spec

Point Pleasant Beach, NJ

Amount
$350,000
Loan Type
Acquisition
Construction

Multi Family Development

Aberdeen, NJ

Amount
$7,250,000
Loan Type
Mezzanine

14 Unit Townhome Development

Deptford, NJ

Amount
$2,240,000
Loan Type
Acquisition
Construction

Multi Family Portfolio

Orange County, NY

Amount
$3,000,000
Loan Type
Mezzanine

56,500 SQ FT Flex Building

East Hanover, NJ

Amount
$4,200,000
Loan Type
Acquisition

Self Storage

Hamburg, NJ

Amount
$2,800,000
Loan Type
Bridge

Self Storage

Sparta, NJ

Amount
$600,000
Loan Type
Bridge

Flex Building

Livingston, NJ

Amount
$550,000
Loan Type
Acquisition

Shopping Center

Whitehouse Station, NJ

Amount
$1,200,000
Loan Type
Bridge

Roger Mumford

Roger Mumford Homes, LLC

"Summit Capital is an indispensable resource for my organization...efficient, knowledgeable and reliable. Summit understands the nuances of today's real estate environment. In addition, their experience and creativity add value and perspective to my deals."

Eric S. Metzler

Mountain View Development

"For over twenty years now I've been doing business with the principals at Summit Capital. Their understanding of the construction and home building business is an invaluable tool when it comes to the most important part of our industry, funding. That understanding sets them apart from any other lender and the speed in which they can get deals done makes Summit Capital the only choice for me."

Steven Denholtz

Denholtz Associates

"We have worked with the Summit team on numerous complex transactions. Summit’s ability to see the big picture, understand the nuances and find structures that work for all parties is unmatched. Absolutely first class."

Jim Babey

Van Holten Group, Inc.

"My banking experience with Summit Capital has been a positive transition from several of the larger banks that I've used over the years. Summit treats me as a respected client and is truly concerned about my long and short term goals. From the beginning, I felt they understood not every deal is the same. The entire staff makes sure each deal is specifically tailored. This is a banking relationship that exactly fits my goals and needs."

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