Closed Loans

$5.715 Million Refinance Secured for Passaic, NJ Multifamily Property

$5.715 Million Refinance Secured for Passaic, NJ Multifamily Property

Kathy Anderson negotiated a $5,715,000 Non-Recourse Loan for a valued client to refinance a 40-unit multifamily building located at 224-232 Hope Avenue in Passaic, NJ.

Earlier this year, the 38,411 SF property recently completed construction. The building, now known as Properties at Casa Bella, consists of (35) two‐bedroom units and (5) one‐bedroom units. The property also features 36 parking spaces on site.

Immediate surroundings include other residential buildings, restaurants, retail stores, schools, and supermarkets. The buildings location also provides easy access to numerous commuting outlets such as Route 21, Route 3 and Route 46.

Kathy worked with Red Capital Markets to negotiate a low interest rate of 3.815% Fixed for 10 Years with a 2 Year I/O Period and 30 Year Amortization.

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

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