$2,775,000 Arranged for Acquisition of Renovated Neptune Retail Plaza

Brad Domenico of Progress Capital Advisors Negotiated the Terms of the Permanent Mortgage.
Retail Plaza Acquisition State Route 35 Neptune, NJ
Retail Plaza Acquisition State Route 35 Neptune, NJ
NEPTUNE, N.J. - April 30, 2018 - PRLog -- Brad Domenico, Partner at Progress Capital,secured a $2,775,000 non-recourse permanent mortgagefor the acquisition of the retail strip plaza located at 36 State Route 35 in Neptune, NJ. The subject property is a newly renovated 18,150 SF retail shopping plaza at the former Wonderbread / Hostess Regional Bakery and Outlet. The plaza was 100% occupied and anchored by an 8,900 SF Family Dollar at the time of acquisition.

Domenico negotiated a 30 year term with 30 year amortization and an initial 5 year fixed rate period at 4.25%.The borrower will adhere to a declining pre-pay schedule. This loan represents 65% of the borrower's acquisition cost.

Progress Capital is a Commercial Real Estate Mortgage Brokerage Firm specializing in arranging debt for commercial real estate owners and developers of mixed-use, multi-family, construction, industrial, retail, office and commercial storage properties. With an unrivaled network of lending partners and capital market relationships we have arranged over $40 Billion in Transactions and Directly Funded over $150 Million. We get you to the closing table – plain and simple. #thatsPROGRESS

Learn more about this and other recent transactions at:

Matt Sadler
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Tags:Retail, Acquisition, Commercial Real Estate
Industry:Real Estate
Location:Neptune - New Jersey - United States
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