Progress Capital Arranges $4.95 Million Acquisition Loan for The Bridgewater Shoppes
Brian Anderson of Progress Capital secured a $4.95 million acquisition loan for The Bridgewater Shoppes, a prominent retail center nestled at 1329 Prince Rodgers Avenue in Bridgewater, NJ. This acquisition loan comes with a fixed interest rate of 6.875% for a 5-year term.
The Bridgewater Shops encompass 41,583 square feet spread across five buildings situated on a spacious 6.71-acre site, featuring an impressive 247 parking spaces. Boasting a diverse tenant lineup, including PNC Bank, various eateries, an orthodontic practice, and educational activity providers, the property is meticulously maintained and has undergone significant capital improvements and renovations.
Located in a prosperous and densely populated area approximately 45 minutes west of New York City, The Bridgewater Shops benefit from substantial foot traffic and convenient access to major highways, prominent office complexes, and upscale shopping destinations. Notably, the property enjoys proximity to Bridgewater Commons, Somerset Corporate Center, Marriot and The Village at Bridgewater.
Progress Capital stands as a premier commercial mortgage advisory firm with a track record of over $40 billion in closed loans and $150 million of directly funded bridge loans. With over three decades of experience, Progress Capital consistently demonstrates its commitment to clients by securing the most advantageous capital options available in the market.
