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

Category
Retail
About This Project

$2,800,000 Refinance Loan Arranged for Retail Property

 

Cranford, NJ – Kathy Anderson, Founding Partner of Progress Capital arranged $2,800,000 in financing for 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 loan amount represents a 70% loan to value ratio.

 

The property is located in ORC, Office Residential Character District in Cranford along major transportation routes with good access to major airports and proximity to New York City.

 

Kathy, along with Investors Bank, negotiated the loan to include the following terms:

  • 625% Interest for 10 Years
  • 10 Year Term – 25 Year Amortization
  • Full Recourse to Owner

 

 

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.