Progress arranges $17M loan for Jersey City multifamily acquisition
Progress Capital partner, Brad Domenico has secured a $17,250,000 loan for Ohio-based Spring Property Management’s acquisition of a mixed-use building at 125-129 Magnolia Avenue, Jersey City. The sale of the property was brokered by Niko Nicolaou, executive vice president at Gebroe Hammer Associates. The site contains a five-story 1920’s era building known as 125 Magnolia at Journal Square. The contains 99 units comprised of five ground-floor retail units and 94 apartments. Each of the units have recently undergone high end kitchen and bathroom renovations, as well as the installation ...
Source: rew-online.com