Aberdeen, NJ – Progress Capital’s Brad Domenico was approached by ‘Aberdeen Retail Partners’ seeking to refinance a newly constructed building located at 1109 Route 34 in Aberdeen, NJ. The property is subject to a NNN lease with Starbucks Coffee. Constructed in 2017, the borrower sought to refinance $1,275,000 exiting their construction loan to a permanent mortgage. Appraised at $2,300,000, Domenico negotiated a $1,725,000 CRE Mortgage, representing a 74% loan to cost.
Key Terms of this loan include:
Progress Capital Advisors loan programs include Fixed Rate Loans, Construction and Specialty Financing as well as Directly Funded Bridge Loans. With over $40 Billion in closed loans and $100 Million in bridge and direct lending, we will get you to the closing table … plain and simple. #thatsPROGRESS