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Progress Capital Secures $14M Construction Loan For Self-Storage Facility In Boonton, NJ

Progress Capital brokers loan for $14,000,000 in Boonton
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This Industrial property located in NJ received a loan of $14,000,000 over 1 year ago. The brokers of the deal were Kathy Anderson and Caillin Boles

An industrial property located in Boonton, NJ with a square footage of 102,022 has undergone a closed transaction. The deal involved a construction loan from Columbia Bank amounting to $14,000,000. The loan was secured for the purpose of building a 740-unit self-storage facility.

Summary of transaction details

  • Property Type: Industrial
  • Transaction Amount: $14,000,000
  • Market: Boonton, NJ
  • Asset Type: Industrial
  • Square Footage: 102,022
  • Lender: Columbia Bank
  • Brokers: Kathy Anderson & Caillin Boles - Progress Capital
  • Loan Type: Construction

Kathy Anderson and Caillin Boles from Progress Capital served as the brokers in this deal, representing the involved parties. This transaction marks the development of a 740-unit self-storage facility in Boonton, NJ, supported by a construction loan provided by Columbia Bank.

View Related

Deals
  • Location
    Boonton, New Jersey, United StatesBoonton, New Jersey, United States
  • Loan Value
    $14,000,000$14,000,000
  • Asset Type
    IndustrialIndustrial
  • 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

Columbia Bank

Columbia Bank

Lender
Deals12
Volume$ 12B

Social

Deal Summary

LOAN IMAGE: Kathy Anderson & Caillin Boles DATE: 07/12/2022 MARKET: Boonton, NJ ASSET TYPE: Industrial ~ SF: 102,022 LENDER: Columbia Bank BROKERS: Kathy Anderson (@Money.Girl.Kathy) & Caillin Boles (@CBoles21) - Progress Capital (@Progress.Capital) LOAN AMOUNT: $14,000,000 LOAN TYPE: Construction NOTE FROM BROKER: 740-unit Self-Storage Facility to-be-built

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Progress Capital brokers loan for $14,000,000 in Boonton

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