PROGRESS CAPITAL | Jersey City/Passaic, NJ – $2,500,000
portfolio_page-template-default,single,single-portfolio_page,postid-14190,ajax_fade,page_not_loaded,,qode-child-theme-ver-1.0.0,qode-theme-ver-2.7,wpb-js-composer js-comp-ver-5.4.7,vc_responsive

Jersey City/Passaic, NJ – $2,500,000

About This Project

Jersey City/Passaic, NJ


Multi-Family Portfolio Closed: Non-Recourse at 3.375%


Progress Capital Advisors recently closed two 3.375% fixed rate loans totaling $2,516,000 for an existing client’s Multi-Family Portfolio. Kathy Anderson arranged the transactions and structured both loans as Non-Recourse with “Bad Boy” Carve-outs.


The first property is a 12-unit apartment building located in Passaic, NJ. The $1,136,000 permanent loan has a fixed rate of 3.375% for 5 years based on a 30 year amortization.


The second property located in Jersey City, NJ, encompasses two adjacent apartment buildings totaling 12 units. This $1,380,000 refinance loan carries a fixed rate of 3.375% for 7 years based on a 30 year amortization.


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