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$6,500,000 Construction Loan Arranged for New Toms River Retail Center
Progress Capital's David Cappello Negotiated an 18-month Interest-Only Term Funded by Procida's 100 Mile Fund.
By: Progress Capital
Cappello negotiated a $6,500,000 interest-only construction loan with an 18-month term funded by Procida's 100 Mile Fund. This loan represents 67% of the projects total cost. The property is currently pre-leased to Ocean Cuts LLC, Buy-Rite Liquors and a Keller Williams Brokerage Office. Over the next two months the borrower expects to add two more tenants bringing the plaza to 50% occupancy pre-completion, which is targeted for a Summer 2018.
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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Page Updated Last on: Feb 16, 2018