Progress Capital Arranges $9.3 Million For Acquisition of Industrial Building in New Brunswick
Kathy Anderson and Caillin Boles of Progress Capital secured a $9,300,000 CRE acquisition loan for the purchase of a newly constructed 67,200 SF industrial building located in New Brunswick, NJ.
Kathy worked with a bank who provided the following terms:
- $9,300,000 Loan Amount
- 7 Year Fixed at 2.99%
- 10 Year Term
- 25 Year Amortization
- 3-3-2-2-1 Prepay
The 4.5-acre vacant lot at 520 Jersey Avenue has been recently developed into a state-of-the-art industrial building suitable for office, warehouse, lab and manufacturing uses. Located along the ‘Jersey Avenue Corridor’ which is home to large warehouse operations, the building has 39-foot ceiling heights with 8 loading docks. The New Jersey Transit bus and rail access is less than 5 minutes from the property and just minutes from Route 1 and Exit 9 of the NJ Turnpike.
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!