PROGRESS CAPITAL | $5,850,000 Arranged for the Galleria in Marlton New Jersey
Marlton, NJ - Kathy Anderson of Progress Capital Advisors arranged $5,850,000 in financing for a valued borrower to refinance and reposition The Galleria at Marlton | Marlton, NJ. A portion of the loan proceeds will retire the existing mortgage on the property, allowing the client to cash out an additional $2,100,000 for renovations and tenant fit-out. This loan represents a 75% LTV on the ‘as is’ appraised value of the property. Loan terms include:
marlton new jersey commercial real estate galleria renovation and acquisition financing mortgage loan
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Marlton, NJ – $5,850,000

Category
Construction, Retail
About This Project

 

$5,850,000 | 20 Year Fixed Rate | 2 Years Interest Only

 

Marlton, NJ Progress Capital arranged $5,850,000 in financing for a valued borrower to refinance and reposition The Galleria at Marlton | Marlton, NJ.  A portion of the loan proceeds will retire the existing mortgage on the property, allowing the client to cash out an additional $2,100,000 for renovations and tenant fit-out.  This loan represents a 75% LTV on the ‘as is’ appraised value of the property.  Loan terms include:

 

  • 24 Months Interest Only at WSJ Prime
  • 20 Year Forward Rate Lock Fixed at Closing after                   the I/O Period
  • Swap Breakage During Permanent
  • 30 Year Amortization / Term

 

Progress Capital 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