Bayonne, NJ – Kathy Anderson of Progress Capital Advisors was approached to secure financing for the acquisition and construction to re-position the former Maidenform Factory into a multifamily asset. Once the largest employer in Bayonne, Maidenform was the original pioneer of all women’s undergarments through the late 1970’s.
When both international and domestic competition started heating up through the early 2000’s, Maidenform was driven to relocate to Iselin, NJ in 2007, leaving this once burgeoning factory to languish.
In late 2009 the property was purchased and construction began to convert the building into 84 luxury loft-style apartment units, shared lobby and common area known as the Silk Lofts at Bayonne.
Progress Capital Advisors’ loan programs include Construction, Fixed Rate Loans and Specialty Financing, as well as Directly Funded Bridge Loans. With over $40 Billion in closed loans and $150 Million in direct lending, we will get you to the closing…plain and simple…#thatsPROGRESS