AST Financial and Summit Capital Partners Close Over $51 Million in Financing in 2022
AST announces that AST Financial, its fully integrated lending platform for homebuilders, in cooperation with Summit Capital Partners, a direct, non-bank, commercial real estate lender specializing in construction and bridge financing, have closed over $51 million in home construction financing in 2022.
Topping-Off Ceremony Held for 15-Story State-of-the-Art Robert Wood Johnson Medical Pavilion in New Brunswick
AST, RWJBarnabas Health and New Brunswick Mayor James Cahill celebrated a topping-off ceremony and beam signing on what will be the ceremonial final beam of the 15-story steel frame of a state-of-the-art ambulatory medical pavilion on the Robert Wood Johnson University Hospital (RWJUH), an RWJBarnabas Health facility, campus located at 210 Somerset Street. Scheduled for completion in the second quarter of 2023, the 229,000-square-foot facility will be master-leased to RWJBarnabas Health increasing access to comprehensive care in the region.
Private construction financing: The ideal solution for New Jersey-based homebuilders
In theory, times have never been better for homebuilders.
A national shortage of homes paired with demographic shifts that have caused a large number of new buyers to enter the market has led to record-high prices for new homes throughout the nation's most competitive markets.
However, the reality is that the pandemic and macroeconomic forces have placed tremendous pressure on homebuilders who are hoping to bring much-needed housing to the market. For homebuilders in New Jersey, the rising cost of materials and high labor costs are also exacerbated by a highly constricted land supply that adds yet another hurdle in an already difficult environment. Within this challenging market, small-to-medium-sized homebuilders are often met with another critical barrier in bringing their visions to life - construction financing.
AST Development Rebrands As AST To Fully Integrate Expanded Services And Capabilities
AST Development announces it has rebranded as AST. The rebrand marks the next phase in the company’s evolution as a leader in building and enhancing value across asset class and locations, creating unique opportunities for positive, long-term change in local communities.