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

2-40 Bridge Avenue
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This Mixed-use property located in New South Wales received a loan of $18,750,000 over 4 years ago. The brokers of the deal were Richard "Rich" Setteducati and Kathy Anderson

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:

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.

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Deals
  • Location
    2 Bridge Ave, Oak Flats NSW 2529, Australia2 Bridge Ave, Oak Flats NSW 2529, Australia
  • Loan Value
    $18,750,000$18,750,000
  • Asset Type
    Mixed-useMixed-use
  • Parties
    2 Brokers, 1 Agency, 1 Lender2 Brokers, 1 Agency, 1 Lender

Agents

Richard "Rich" Setteducati

Richard "Rich" Setteducati

Deals1
Financed$18.8M

Kathy Anderson

Kathy Anderson

Deals48
Financed$710.1M

Agency

Progress Capital

Progress Capital

Agency
Deals382
Volume$4.9B

Investors Bank

Investors Bank

Lender
Deals18
Volume$ 23.9B

Deal Summary

IMAGE: Rich Setteducati, Kathy Anderson DATE: 8/23/19 ADDRESS: 2-40 Bridge Avenue MARKET: Red Bank, New Jersey ASSET TYPE: Mixed-Use LENDER: Steed Ardanz – Investors Bank (@investorsbank) LANDLORD: George Sourlis – Sourlis Internation Realty Corp. BROKERS: Rich Setteducati and Kathy Anderson – Progress Capital (@progress.capital) LOAN AMOUNT: $18,750,000

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2-40 Bridge Avenue

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