PROGRESS CAPITAL | $3,375,000 for Acquisition of Toms River Shopping Plaza in 1031 Exchange
$3,375,000 for Acquisition of Toms River Shopping Plaza in 1031 Exchange Toms River, NJ - Kathy Anderson of Progress Capital Advisors secured $3,375,000 in financing for a borrower to acquire the Fischer and Bay Shopping Center as part of a 1031 exchange. The property is anchored by a 10,680 SF single story retail building subject to a 20 year NNN lease with Rite Aid and includes a secondary retail building with three occupied units totaling an additional 8,158 SF. Key terms of this loan include:
commercial real estate toms river new jersey commercial mortgage financing fischer bay plaza shopping center
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Toms River, NJ – $3,375,000

Category
Retail
About This Project

 

$3,375,000 for Acquisition of Toms River Shopping Plaza in 1031 Exchange

 

Toms River, NJ – Kathy Anderson of Progress Capital Advisors secured $3,375,000 in financing for a borrower to acquire the Fischer and Bay Shopping Center as part of a 1031 exchange.  The property is anchored by a 10,680 SF single story retail building subject to a 20 year NNN lease with Rite Aid and includes a secondary retail building with three occupied units totaling an additional 8,158 SF.  Key terms of this loan include:

 

  • 20 Yr. Fixed Rate – subject to 60-day forward rate lock
  • Swap Breakage Prepay
  • 30 Year Term
  • 30 Year Amortization
  • 75% LTV

 

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
 
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