Passaic, NJ – Kathy Anderson negotiated a $5,715,000 Non-Recourse Loan for a valued client to refinance a 40-unit multifamily building located at 224-232 Hope Avenue in Passaic, NJ.
The 38,411 SF property recently completed construction in January of 2019. The building, now known as Properties at Casa Bella, consists of (35) two‐bedroom units and (5) one‐bedroom units. The property also features 36 parking spaces on site.
Immediate surroundings include other residential buildings, restaurants, retail stores, schools, and supermarkets. The buildings location also provides easy access to numerous commuting outlets such as Route 21, Route 3 and Route 46.
Kathy worked with Red Capital Markets to negotiate a low interest rate of 3.815% Fixed for 10 Years with a 2 Year I/O Period and 30 Year Amortization.
Progress Capital is a leading Commercial Mortgage Brokerage Firm specializing in arranging debt for commercial real estate owners, operators and developers. Since 1990, Progress has successfully closed in excess of $40 Billion in commercial loans and directly funded over $150 Million.
We get you to the closing table…Plain and Simple. #thatsprogress