PROGRESS CAPITAL | Jersey City, NJ – $7,230,000
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Jersey City, NJ – $7,230,000

Multi-Family, Retail
About This Project

Progress Capital Packages $7,230,000 in Loans for the Refinance of Four Jersey City Multifamily Buildings


Kathy Anderson Negotiated the Terms and Amounts of the Four Separate Loans on Behalf of ‘JR City Properties’


Jersey City, NJ – Kathy Anderson, Managing Partner at Progress Capital, packaged $7,230,000 in loans to refinance four Jersey City multifamily buildings on behalf of ‘JR City Properties.’ The four properties include a mixed-use building at 456-462 Laidlaw Avenue and the 3 multifamily buildings at 84 Waldo Street, 30-41 Bleecker Street and 37 Paterson Street. The properties encompass a total of 56 residential units and (1) 3,500 SF ground-level retail space.


All four loans have the following terms:

  • 4.125% Fixed for 5-Years
  • 10-Year Term
  • 30 Year Amortization
  • Rate reset for Years 6-10
  • Declining Prepay
  • Non-Recourse


The loan proceeds were used by ‘JR City Properties’ to refinance the existing debt on the assets and cash-out a significant amount of equity to fuel the continued expansion of a robust multifamily portfolio.


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 deployed over $150 Million through their direct lending platform.


We will get you to the closing table … plain and simple  – #thatsPROGRESS


View Press Release

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