PROGRESS CAPITAL | Gloucester, NJ – $12,200,000
18301
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Gloucester, NJ – $12,200,000

Category
Construction, Multi-Family
About This Project

$12.2 Million arranged for Gloucester, NJ Construction Loan

 

GLOUCESTER CITY, NJ – Kathy Anderson, Founding Partner of Progress Capital, secured a $12,200,000 construction loan for a valued client, Cyzner Properties, to rehabilitate and renovate River Point Apartments. The complex consists of 11 separate garden-style buildings and is comprised of 143 residential units.

 

Notable terms are:

  • Prime + 1.0% floating Interest Rate
  • 24 month I/O Period with (2) 6-month extensions
  • No exit fee
  • 75% LTC

 

Progress Capital is a leading Commercial Mortgage Banking firm specializing in arranging debt for commercial real estate owners and residential developers. Since 1990, Progress has successfully closed in excess of $40 Billion in commercial loans and directly funded over $150 Million.

 

We Get You to the Closing Table… Plain and Simple.  #thatsPROGRESS.