Progress Capital Secures $18.75M Loan For Mixed-Use Property In Red Bank, New Jersey

A mixed-use property located at 2-40 Bridge Avenue in Red Bank, New Jersey was recently involved in a closed transaction. The property consists of both residential and commercial spaces, catering to a variety of tenants. The transaction took place on 8/23/19.

Summary of transaction details:

• Property Type: Mixed-Use
• Transaction Amount: $18,750,000
• Lender: Steed Ardanz – Investors Bank
• Landlord: George Sourlis – Sourlis International Realty Corp.
• Brokers: Rich Setteducati and Kathy Anderson – Progress Capital

Steed Ardanz from Investors Bank provided a loan amount of $18,750,000 for this transaction. The landlord of the property is George Sourlis from Sourlis International Realty Corp. The deal was facilitated by brokers Rich Setteducati and Kathy Anderson from Progress Capital, who represented the respective parties involved in the transaction.