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TriState Capital Provides $4.7M Acquisition Loan For Retail Property In Elizabeth, NJ

701 Spring Street
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This Retail property located in NJ received a loan of $4,700,000 almost 3 years ago. The brokers of the deal were Frank Stanislaski and Brad Domenico

Located at 701 Spring Street in Elizabeth, NJ, this retail property was recently acquired through an acquisition loan. The transaction took place on May 5, 2021, and the loan amount was $4,700,000. The property is situated in the Elizabeth market, known for its vibrant retail sector. The loan was provided by TriState Capital, a prominent lender in the industry. The landlord of the property is Justin DiMare.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: $4,700,000
  • Loan Type: Acquisition
  • Lender: TriState Capital
  • Landlord: Justin DiMare
  • Brokers: Brad Domenico - Progress Capital, Frank Stanislaski - Progress Capital
  • Loan Terms: Full Term I/O

The deal was facilitated by Brad Domenico from Progress Capital and Frank Stanislaski, also from Progress Capital. These brokers represented the buyer in the transaction. Their expertise in the retail market and their network of contacts contributed to the successful acquisition of the property. TriState Capital, the lender in this deal, provided a loan with full-term interest-only (I/O) repayment terms.

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Deals
  • Location
    701 Spring Street, Elizabeth, NJ, USA701 Spring Street, Elizabeth, NJ, USA
  • Loan Value
    $4,700,000$4,700,000
  • Asset Type
    RetailRetail
  • Parties
    2 Brokers, 1 Agency2 Brokers, 1 Agency

Agents

Frank Stanislaski

Frank Stanislaski

Deals36
Financed$211.5M

Brad Domenico

Brad Domenico

Deals114
Financed$2.1B

Agency

Progress Capital

Progress Capital

Agency
Deals382
Volume$4.9B

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Deal Summary

LOAN IMAGE: Frank Stanislaski & Brad Domenico DATE: 05/05/2021 ADDRESS: 701 Spring Street MARKET: Elizabeth, NJ ASSET TYPE: Retail LOAN TYPE: Acquisition LENDER: TriState Capital LANDLORD: Justin DiMare BROKERS: Brad Domenico @Domenico317 & Frank Stanislaski @Fstanisl - Progress Capital @Progress.Capital LOAN AMOUNT: $4,700,000 LOAN TERMS: Full Term I/O

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701 Spring Street

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