Progress Capital Secures Acquisition/Renovation Loan for Prime Real Estate in Hazlet, NJ

Progress Capital has effectively secured an acquisition/renovation loan totaling $8,939,700 for prime real estate situated on State Highway Route 36 in Hazlet, New Jersey.  Brian Anderson, Managing Director of the firm, led the financing efforts on behalf of the client. The loan specifics include an SBA funded loan featuring an 80% loan-to-value ratio.

The property comprises a vacant 95,000 square-foot industrial facility nestled on a sprawling 10-acre parcel of land, offering substantial potential for the borrower’s expansion initiatives. The decision to invest in this property underscores the borrower’s strategic foresight for growth and development. Given Hazlet’s strategic location and thriving business community, the property stands poised for future success.

To align with the borrower’s vision, approximately $1.5 million will be dedicated to renovating the property. These renovations will convert the site into an owner-occupied facility, customized to meet the needs of the borrower’s rapidly growing company.

Progress Capital specializes in providing tailored financial solutions for commercial real estate transactions. With a focus on understanding clients’ unique objectives, Progress Capital is committed to delivering exceptional service and securing optimal financing options.

For more information about Progress Capital and its services, visit progresscapital.com or contact Brian Anderson.