Progress Capital Facilitates $10.85M Acquisition Loan For Industrial Property In Readington, NJ | 291 Route 22 East | Caillin Boles, Kathy Anderson | Industrial | Loan

Summary

Loan

NEW JERSEY

Industrial

156,000 sqft

Located at 291 Route 22 East in Readington, NJ, this industrial property spans over 156,000 square feet. The deal was closed on May 26, 2023, with an acquisition loan of $10,850,000. The loan is fixed at a rate of 5.875% and includes a 3-2-1-0 prepayment option.

Summary of transaction details

Property Type: Industrial
Transaction Amount: $10,850,000
Market: Readington, NJ
Landlord: Commerce Park Investors - Roy Pascal
Broker: Kathy Anderson & Caillin Boles - Progress Capital

Kathy Anderson and Caillin Boles from Progress Capital represented the buyer in this acquisition loan. The property is owned by Commerce Park Investors, with Roy Pascal as their representative. With a fixed rate of 5.875% and an attractive prepayment option, this loan provides favorable terms for the buyer.

Players

All
3

Agents
2
Agencies
1

$15.1M Sold

$99.2M Sold

Details

Deal Summary

FINANCED

IMAGE: Kathy Anderson & Roy Pascal DATE: 05/26/2023 ADDRESS: 291 Route 22 East MARKET: Readington, NJ ASSET TYPE: Industrial ~ SF: 156,000 LANDLORD: Commerce Park Investors - Roy Pascal BROKER: Kathy Anderson (@Money.Girl.Kathy) & Caillin Boles (@CBoles21) - Progress Capital (@Progress.Capital) LOAN AMOUNT: $10,850,000 LOAN TYPE: Acquisition LOAN TERMS: Rate is fixed at 5.875% with a 3-2-1-0 prepay

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Address291 Route 22 East

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