Progress Capital Arranges $8 Million Loan for Toms River Apartments
Kathy Anderson and Caillin Boles of Progress Capital arranged an $8,310,000 permanent loan for JMC Realty Group to refinance The Residence Club at Cox Cro Crossing, a two-building apartment complex totaling 44-units located in Toms River, NJ.
The loan was provided by Lakeland Bank and was used to refinance a construction loan that was also funded by Lakeland Bank several years ago.
Cox Cro Crossing is a newly constructed community featuring one, two and three-bedroom luxury apartments. The location is a short distance from the Jersey Shore’s most desired beaches and restaurants and within minutes of GSP, Route 70 and Monmouth Medical Center – Southern Campus.
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.