PROGRESS CAPITAL | Passaic, NJ – $5,350,000
18404
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Passaic, NJ – $5,350,000

Category
Multi-Family
About This Project

$5.35 Million Refinance for Multifamily in Passaic, NJ

 

Passaic, NJ – Kathy Anderson and Eli Samaan arranged a $5,350,000 loan to refinance a 2-building, 4-story multifamily property located at 201 Market Street and 40 Morris Street in Passaic, NJ.  The buildings, which are adjacent to one another, were constructed in 2008 and 2012.  They contain 56 apartment units totaling roughly 52,550 SF on 1.13-acres.

 

 

Kathy worked with Red Capital Markets LLC to negotiate the following key terms:

  • 4.42% Fixed for 10 Years
  • 20 Year Term with Rate Resets Subject to a Cap
  • 30 Year Amortization
  • Non-Recourse
  • Declining Prepayment

 

Progress Capital is a leading Commercial Mortgage Brokerage Firm specializing in arranging debt for commercial real estate owners, operators and 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