PROGRESS CAPITAL | Union, NJ – $1,920,000
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Union, NJ – $1,920,000

Construction, Retail
About This Project

$1.9 Million Arranged for New Construction of Retail Property


Union, NJ A $1,920,000 construction to permanent loan was arranged by Kathy Anderson for a valued client to acquire a two unit, single-story retail building at 1230 Morris Avenue in Union, NJ.


The property, a former Foot Locker, sits on a 0.84-acre site and is 7,934 SF. The construction plan is to convert the building from two units to three.


Kathy worked with Affinity Federal Credit Union to negotiate the following key terms:

  • 24 Month I/O
  • 25 Year Amortization
  • No Prepayment Penalty
  • 70% LTC
  • 75% LTV


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.