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Lakeland Bank Provides $7.5M Loan For Mixed-Use Property In Union City, NJ

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This Mixed-use property located in NJ received a loan of $7,500,000 almost 3 years ago. The brokers of the deal were Caillin Boles and Kathy Anderson

Located at 1700 Bergenline Avenue in Union City, NJ, this mixed-use property was recently involved in a closed transaction. The loan for this property amounted to $7,500,000 and was provided by Lakeland Bank. The landlord of this property is Judy Sciarra, represented by JR City Properties. The brokers involved in the deal were Kathy Anderson from Progress Capital and Caillin Boles, also from Progress Capital.

Summary of transaction details:

  • Property Type: Mixed-use
  • Transaction Amount: $7,500,000
  • Market: Union City, NJ
  • Lender: Lakeland Bank
  • Landlord: Judy Sciarra - JR City Properties
  • Brokers: Kathy Anderson - Progress Capital, Caillin Boles - Progress Capital

Kathy Anderson and Caillin Boles, representing Progress Capital, played a crucial role in facilitating this transaction. They acted as trusted advisors for the parties involved, ensuring a successful deal for both the landlord and the lender. With their expertise in the real estate market, Anderson and Boles were able to navigate the complexities of the transaction and secure the loan amount of $7,500,000 for the mixed-use property located at 1700 Bergenline Avenue.

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Deals
  • Location
    1700 Bergenline Avenue, Union City, NJ 07087, USA1700 Bergenline Avenue, Union City, NJ 07087, USA
  • Loan Value
    $7,500,000$7,500,000
  • Asset Type
    Mixed-useMixed-use
  • Parties
    2 Brokers, 1 Agency, 1 Lender2 Brokers, 1 Agency, 1 Lender

Agents

Caillin Boles

Caillin Boles

Deals38
Financed$391.8M

Kathy Anderson

Kathy Anderson

Deals48
Financed$710.1M

Agency

Progress Capital

Progress Capital

Agency
Deals382
Volume$4.9B

Lakeland Bank

Lakeland Bank

Lender
Deals29
Volume$ 59.3B

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Deal Summary

LOAN IMAGE: Kathy Anderson & Caillin Boles DATE: 04/16/2021 ADDRESS: 1700 Bergenline Avenue MARKET: Union City, NJ ASSET TYPE: Mixed-use LENDER: Lakeland Bank LANDLORD: Judy Sciarra - JR City Properties @jrcityproperties BROKERS: Kathy Anderson @money.girl.kathy & Caillin Boles @cboles21 - Progress Capital @progress.capital LOAN AMOUNT: $7,500,000

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1700 Bergenline Avenue

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