Progress Capital Arranges $3.75 Million Construction Loan For Goddard School In Livingston
Kathy Anderson of Progress Capital arranged a $3,750,000 construction/permanent mortgage for the renovation of a former bank branch located at 92 South Livingston Avenue, Livingston, NJ, into a Goddard School.
Valley National Bank provided favorable terms including a 24-month I/O construction loan with a permanent conversion option.
A few years ago, the borrower purchased the former bank site with acquisition financing also arranged by Kathy Anderson. The borrower’s improvements to the property include completely renovating the existing structure to make way for The Goddard School, which will serve as a second location to the West Orange franchisee owners, Steve and Nicole Harrison.
The property’s immediate surroundings include retail stores, shopping centers, residential housing and schools. The site is also located in close proximity to numerous parks such as Little People’s Park and East Hills Park and provides easy access to a number of commuting outlets such as Route 10 and Interstate‐280.
Since 1990, Progress Capital has closed over $40 Billion in commercial loans and $150 Million in directly funded bridge loans. As a commercial real estate advisory 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. We consistently get our clients to the closing table… plain and simple!