Progress Capital Arranges $35.2M Loan for Refinancing of Medical Office Building in Clifton, New Jersey


The medical office facility located at 1255 Broad St. in Clifton totals 203,000 square feet.

CLIFTON, N.J. — New Jersey-based mortgage banking firm Progress Capital has arranged a $35.2 million loan for the refinancing of a 203,000-square-foot medical office building in the Northern New Jersey city of Clifton. Tenants at the property include Summit Medical Group, AECOM and SSB Realty, and building amenities include a cafeteria, fitness center and a conference room. Natixis Real Estate Capital provided the nonrecourse, interest-only loan. The borrower was ERCT Capital Group. Brad Domenico of Progress Capital placed the debt.

Content Partners
‣ Bohler
‣ Lee & Associates
‣ Lument
‣ NAI Global
‣ Walker & Dunlop

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