PROGRESS CAPITAL | Cranford, NJ – $2,800,000
18502
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Cranford, NJ – $2,800,000

Category
Retail
About This Project

$2.8 Million Refinance Secured for Cranford, NJ Retail Property

 

Cranford, NJ – Kathy Anderson arranged $2,800,000 to refinance a one-story bank branch building located at 101-103 South Avenue West in Cranford, NJ. The building contains 4,600 SF of gross lease-able area as well as 20 on-site parking spaces. The property is located in ORC, Office Residential Character District of Cranford along major transportation routes with easy access to major airports and proximity to New York City.

 

Kathy negotiated the following loan terms with Investors Bank, including a $1,500,000 cash-out which the borrow intends to use to fuel continued expansion of an already robust CRE portfolio:

  • 4.625% Fixed for 10 Years
  • 25 Year Amortization
  • 70% LTV

 

 

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.