PROGRESS CAPITAL | North Jersey Portfolio – $5,036,000
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North Jersey Portfolio – $5,036,000

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About This Project

Kathy Anderson Negotiates Six Loans for One Client’s North Jersey Retail Portfolio

 
North Jersey – Managing Partner of Progress Capital, Kathy Anderson, advised on and negotiated the terms of six separate commercial real estate loans for a valued client to finance varying aspects of his northern NJ retail portfolio.
 
Working with Anderson allowed the client to maximize their loan proceeds allowing them to continue aggressive acquisitions of potential ‘class A’ retail properties throughout the state.
 
The varying retail properties and loan amounts include:
 
441-449 Route 10 – Livingston, NJ – $1,400,000
*Acquisition/Renovation Converting to Permanent Loan
*7,600 SF – Single Story Retail Building

     

  • 18 Months Interest-Only
  • 80% Loan to Value
  • 7 Year Term
  • 25 Year Amortization

 
2536 Route 22 – Union, NJ – $1,060,000
*Construction to Permanent Loan
*5,076 SF – Single Story Retail Building

     

  • 12 Months Interest-Only
  • Declining Prepay
  • 80% Loan to Value
  • 5 Year Term
  • 25 Year Amortization

 
401 Route 206 – Hillsborough, NJ – $805,000
*Acquisition
*4,527 SF Single Story Retail Building

     

  • 4.06% Fixed for 7 Years
  • Declining Prepay
  • 65% Loan to Value
  • 7 Year Term
  • 25 Year Amortization

 
32 Route 10 – East Hanover, NJ – $750,000
*Acquisition
*5,100 SF Single Story Retail Building

     

  • 4.25% Fixed for 7 Years
  • Declining Pre-Pay
  • 75% Loan to Value
  • 7 Year Term
  • 25 Year Amortization

 
513 Route 22 – North Plainfield, NJ – $650,000
*Acquisition
*3,344 SF Single Story Retail Building

     

  • 4.50% Fixed for 7 Years
  • Declining Prepay
  • 60% Loan to Value
  • 7 Year Term
  • 25 Year Amortization

 
3445 Route 34 – Hazlet, NJ – $371,250
*Acquisition
*2,205 SF Single Story Retail Building

     

  • 4.375% Fixed for 5 Years
  • No Prepayment Penalty
  • 76% Loan to Value
  • 5 Year Term
  • 25 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


CONTINUED READING:


$86,250,000 Secured for New Construction at 330 E. 62nd Street in NYC
 
$17,000,000 Land and Development Sale of Bogota’s Proposed River Club Multifamily Waterfront Development
 
Kathy Anderson Secures $5,900,000 with 24-Months Interest-Only for Middletown Shopping Plaza Leasehold
 
Refinance of Hoboken Mixed-Use Asset Nets $1.285 Million Cash-Out to Borrower
 
$2.5 Million Refinance of Elizabeth Mixed-Use Building Nets $2,100,000 Cash-Out to Borrower
 
Brad Domenico Negotiates 3.75% on $2.04 Million with 5 Years I/O for NJ Multifamily Acquisition
 
$2.5 Million to Acquire Brooklyn Multifamily Asset
 
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