S hopping C enters T he L enders D irectory
M id A tlantic Real Estate Journal — The Lenders Directory — Section D
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State-of-the-art facility to be built at 3421 Rte. 22, Branchburg, NJ owned by Irv Cyzner Anderson & Boles of Progress Capital arranges $23M construction loan for self-storage facility
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Bank provided a 3-year inter- est-only construction loan with a permanent conversion option. The prop-
RANCHBURG, NJ — Kathy Anderson and Caillin Boles
of Progress Ca p i t a l secured a $23,000,000 construc- tion loan for a state- of-the-art self-storage facility to be built at
erty will fea- ture 1,000 storage units of varying sizes within three two- story build- ings. The new facil- ity includes
Kathy Anderson Caillin Boles
3421 Route 22, Branchburg, owned by Irv Cyzner of Cyzner Properties . The lender, Valley National HI-LIGHTS NOV. 18 - DEC. 22, 2022 NORTHMARQ’S RICHMOND OFFICE SECURES $65M IN FINANCING
a covered boat/RV storage area, a vault holding 2,000 safety deposit boxes for stor- ing valuables, and 4,000 SF of specialized wine storage cave designed for restaurants and caterers. The property has additional acreage for the future development of 160 apartment units. As a leading commercial mortgage broker in New HILLSBOROUGH, NJ — David Turley and Ja- net Proscia of Cronheim Mortgage have secured a $49,000,000 permanent take- out financing for Hillsborough Village Center in Hillsbor - ough, Somerset County. Cronheim secured a commit- ment from a New Jersey bank for a seven-year term with two years of interest only followed by a 30-year amortization schedule. The swapped rate was priced at 1.65% over the Term SOFR index. The class A, newly con- structed mixed-use project offers 191 luxury one- and two-bedroom units as well as three mixed-use buildings with elevatored apartments and 28,000 s/f of ground level retail space for lease. The residential units feature open- concept living areas, stainless steel appliances, solid surface countertops, and washer/dryer hook-ups in each unit. The property offers a clubhouse, fitness/exercise facility, out - door heated pool package service room, playground, dog
3421 Route 22
bridge loans. We can advise you on any real estate invest- ment you are considering and provide the financing advice
Jersey, Progress Capital has closed over $40 Billion in commercial loans and $150 Million in directly funded
you need to manage through the commercial real estate acquisition and/or financing process. MAREJ
Cronheim Mortgage secures $49M permanent financing for Central New Jersey apartments
2D
SPOTLIGHT LENDERS DIRECTORY LISTINGS
8-11D
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enjoys immediate access to US Route 206 and is proximate to Interstate 78 and US Route 22. The surrounding area provides a wide variety of shopping and dining options. Larken Associates , head- quartered in Somerset County was the developer of the com- munity. Larken is a second-gen- eration development firm with over 50 years of experience. Hillsborough Village Center
park, pet spa, storage, and electric car charging stations. The Property was completed in phases between late 2021 and early 2022. The quality and size of the units in addi- tion to the best-in-class ame- nity package created a huge amount of tenant interest. The complex was fully leased before the project completion. Hillsborough Village Center
In other news, Cronheim Mortgage has secured $4.1 million in permanent fi- nancing for Vineland Apart- ments, a 104-unit garden- style apartment community in Vineland, NJ. Andrew Stewart, Dev Morris , and Allison Villamagna secured the financing on behalf of Marshall Weinerman Real Estate. MAREJ
Emigrant Mortgage .............................................. 3D Michael H. Claisse, Spencer ........................................... 4-5D Meridian Capital Group........6D Kennedy Funding ........................................... 6-7D Appraisal Institute Southern NJ .................................... 12-IBC-D
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