$2.8 Million Refinance Secured for Cranford, NJ Retail Property
Kathy Anderson arranged $2,800,000 to refinance a one-story bank branch building located at 101-103 South Avenue West in Cranford, NJ. The building contains 4,600 SF of gross lease-able area as well as 20 on-site parking spaces. The property is located in the ORC (Office Residential Character) District of Cranford, along major transportation routes with easy access to major airports and proximity to New York City.
Kathy negotiated the following loan terms with Investors Bank, including a $1,500,000 cash-out which the borrow intends to use to fuel continued expansion of an already robust CRE portfolio:
- 625% Fixed for 10 Years
- 25 Year Amortization
- 70% LTV
Progress Capital is a commercial real estate advisory company serving clients since 1990. With over $40 Billion in closed loans and $150 Million of directly funded bridge loans, we will get you to the closing table… Plain and Simple. #thatsProgress