Progress Capital arranges $15 Million Loan for Purchase of Office-Medical Park in Wayne
Brad Domenico of Progress Capital secured $15,575,000 in acquisition financing for Oak Hill Park, a 122,600-square-foot office and medical building located at 1680 and 1700 Route 23 in Wayne, NJ.
The deal involved close collaboration with Frank DiTommaso of Cushman Wakefield, who brokered the sale end of the transaction and BCB Bank who provided debt financing, accompanied by favorable terms.
Oak Hill Park features two recently renovated buildings occupied by approximately 30 tenants of select medical practices including pediatrics, medical specialists, dentistry and more.
The site is ideally located within walking distance of various retail, dining and entertainment options and is less than five minutes from Interstates 80 and 287, allowing for easy access to the surrounding neighborhoods.
“The continued demand for healthcare and life science space renders this a great move for my client and I’m pleased to have arranged the financing he needed to make it happen.” -Brad Domenico
Since 1990, Progress Capital has closed over $40 Billion in commercial loans and $150 Million in directly funded bridge loans. As a commercial lending firm, we can advise you on any real estate investment you are considering and provide the financing advice you need to manage through the commercial real estate acquisition and/or financing process.
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