Closed Loans

Kathy Anderson Arranges 12.3 Million for Vacant Factory

Kathy Anderson of Progress Capital was approached to secure financing for the acquisition and construction to re-position the former Maidenform Factory into a multifamily asset.  Once the largest employer in Bayonne, Maidenform was the original pioneer of all women’s undergarments through the late 1970’s.

When both international and domestic competition started heating up through the early 2000’s, Maidenform was driven to relocate to Iselin, NJ, leaving this once burgeoning factory to languish.

The property was later purchased and construction began to convert the building into 84 luxury loft-style apartment units, shared lobby and common area. The property today is known as the Silk Lofts at Bayonne.

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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