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 loan amount represents a 75% LTV.
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.
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.