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New York & Tri-State  + New Jersey  + Apartments  |  June 26, 2026
Paul Bubny
By: Paul Bubny

22-Property NJ Workforce Portfolio Refinanced for $38M

Benmark Capital recently closed on a $38-million loan to refinance a 22-building workforce housing portfolio in Paterson, NJ. The financing was secured by Ania Management, led by Founder and CEO Charles Florio. The transaction was arranged by Marc Waldman of Kentmoore Capital.

Comprising 203 residential units and six commercial units across 22 multifamily and mixed-use buildings, the workforce housing portfolio is approximately 99% occupied. The financing package was provided to support the sponsor’s refinancing strategy and position the asset for future agency financing. The transaction spanned 22 separate buildings to be coordinated and completed simultaneously.

“The Paterson Portfolio was a time-sensitive, highly structured financing that demanded precision and certainty of execution,” said Mark Simon, CEO of Benmark Capital. “Charles Florio and the Ania Management team are best-in-class operators and a trusted repeat borrower, and we were proud to once again deliver a customized capital solution tailored to both their immediate objectives and long-term strategy.”

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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