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:
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.