Closed Loans

$9,750,000 Secured for Passaic, NJ Multifamily

Kathy Anderson and Eli Samaan arranged a $9,750,000 loan to refinance two 4-story multifamily properties located in Passaic, NJ. The rate was fixed at 3.08% for 10 years and closed in under 35 days.

The first property is located at 229-239 Hope Avenue in Passaic, NJ and sits on 0.94 acres. The building was built in 2013 and is comprised of 55 apartment units containing 47 two-bedroom units, 7 one-bedroom units and 1 three-bedroom unit.

The second property sits on a 0.64-acre lot located at 9-23 8thAve in Passaic, NJ and was built in 2013. The building contains 31 residential units made up of 29 two-bedroom units and 2 three-bedroom units. A secure parking area is located at the entrance of the facility.

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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