$5 Million Refinance Arranged for Industrial Property in Livingston, NJ
Kathy Anderson, Founding Partner of Progress Capital negotiated a $5,000,000 permanent mortgage loan secured by a newly constructed single-story 41,250 SF warehouse/flex building.
This Livingston, NJ property located on Industrial Parkway, features flex units that include a reception/office area as well as a roll-up drive-in door providing access to the remainder of the unit. The building is perfect for small businesses or, for larger businesses, units can easily be combined.
Kathy worked with Spencer Savings Bank to achieve the following key terms:
- 7-year fixed rate of 4.625% with 5 year reset
- 30 Year Amortization
- 75% LTV
- 4-3-2-1-1-1-1 prepay
- Cash out for future reinvestment
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