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Progress Capital Advisors Secures Financing to Rebuild NJ Sea Village Marina
By: Progress Capital Advisors
"This was a challenging loan. Marinas aren't always the easiest loans to secure normally – but add a community of houseboats, the only in NJ, severe hurricane damage, lack of recent operating history and a series of foreclosure proceedings – and you've got quite the hurdle to jump. But we did it, and now this community can finally start rebuilding!" mentioned Cappello when discussing the finalized negotiations. This loan is an acquisition and construction loan, with an interest rate fixed for 5 years at 4.25% with 20-year amortization.
Progress Capital Advisors is a leading Commercial Mortgage Banking firm specializing in arranging debt for commercial real estate owners, residential developers and STNL properties. Since 1990, Progress Capital has successfully closed in excess of $40 Billion in commercial loans, fostering knowledge and credibility to negotiate the most favorable terms on behalf of a diverse range of clients including transactions of some of the most notable commercial addresses throughout the United States. They get you to the closing table – plain and simple… that's Progress! Learn more at http://www.progresscapitaladvisors.com