Lakeland Bank Provides $1.675M Acquisition Loan For Industrial Property In East Hanover

An industrial property located at 272 Ridgedale Avenue in East Hanover, NJ has been involved in a recent transaction. The property was acquired with the assistance of a loan provided by Lakeland Bank. The loan amount totaled $1,675,000 and was designated for the acquisition of the property. The loan terms included a fixed interest rate of 3.75% for a period of 7 years, with a 25-year amortization schedule. The property is owned by Roy Pascal, who serves as the landlord. The transaction was facilitated by Caillin Boles of Progress Capital.

Summary of transaction details

• Property Type: Industrial
• Transaction Amount: $1,675,000
• Address: 272 Ridgedale Avenue, East Hanover, NJ
• Loan Amount: $1,675,000
• Loan Terms: 3.75% Fixed for 7 Years, 25 Year Amortization
• Lender: Lakeland Bank
• Landlord: Roy Pascal
• Broker: Caillin Boles - Progress Capital

The involvement of Lakeland Bank as the lender demonstrates their commitment to supporting property acquisitions. Roy Pascal, as the landlord, played a key role in the transaction. The services of Caillin Boles from Progress Capital were enlisted to facilitate the deal. These individuals and companies contributed to the successful acquisition of the industrial property at 272 Ridgedale Avenue in East Hanover, NJ.