Progress Capital Arranges $7 Million Construction Loan for Toms River Apartments
Kathy Anderson and Caillin Boles of Progress Capital secured a $7,000,000 commercial construction loan for JMC Management Group to construct Cox Cro Crossing, comprised of two apartment buildings totaling 44 Units in Toms River.
Commercial Loan Terms Include:
- 24 Month Construction Term
- Prime + 1%
- 70% LTC
- Permanent Option Upon Stabilization
- Declining Prepay Upon Permanent Conversion
Cox Cro Crossing will be situated at the busy Toms River intersection located along Route 9 and Cox Cro Road. The property’s immediate surroundings include other residential buildings, retail stores, office buildings and restaurants. The location also provides easy access to numerous commuting outlets such as Route 70 and Garden State Parkway.
Since 1990, Progress Capital has closed over $40 Billion in commercial real estate 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!