$3,375,000 for Acquisition of Toms River Shopping Plaza in 1031 Exchange

Kathy Anderson of Progress Capital secured $3,375,000 in financing for a borrower to acquire the Fischer and Bay Shopping Center as part of a 1031 exchange. The property is anchored by a 10,680 SF single story retail building subject to a 20 year NNN lease with Rite Aid and includes a secondary retail building with three occupied units totaling an additional 8,158 SF.

Key terms of this loan include:

• 20 Yr. Fixed Rate – subject to 60-day forward rate lock
• Swap Breakage Prepay
• 30 Year Term
• 30 Year Amortization
• 75% 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