Lakeland Bank Provides $2.35M Refinance Loan For Retail Property In Long Branch, NJ

This transaction involves a retail asset located at 492 Joline Ave., in the Long Branch, NJ market. The loan amount for this property was set at $2,350,000. The asset is part of the retail sector, and the loan was classified as a refinance. The terms of the loan include a fixed interest rate of 3.65% with a duration of 10 years.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $2,350,000
• Lender: Lakeland Bank
• Broker: Simon Rosenfeld - Meridian Capital Group
• Loan Type: Refinance
• Loan Terms: $2,350,000 at a fixed interest rate of 3.65% with a 10-year term

Simon Rosenfeld represented the deal as the broker from Meridian Capital Group. The transaction reflects the collaboration between the lender, Lakeland Bank, and the broker to facilitate the financing of this retail property.