75% LTV on Newark Multifamily Property

NEWARK, N.J. - July 28, 2017 - PRLog -- Brad Domenico of Progress Capital Advisorsarranged $2,100,000 in financing for a multi-family asset with 25 rental units on Goldsmith Avenue in Newark NJ.  " Newark is hot right now! Our clients are taking notice and we are arranging  a lot of financing for varying types of multifamily, retail, office and industrial and mixed-use space," mentioned Domenico.  The borrower, having previously renovated and repositioned the aforementioned property, will use the proceeds of the loan to refinance the existing debt, recapture $600,000 in equity and cash-out $200,000.  The proceeds will be used to further improve the property while also fueling the continued expansion of our client's robust portfolio.

Terms of this loan include:

• 75% LTV
• 3.875% Fixed for 5 Years
• 10 Year Term
• 30 Year Amortization
• Declining Pre-Pay

Progress Capital Advisors loan programs include Fixed Rate Loans, Construction and Specialty Financing as well as Directly Funded Bridge Loans.  With over $40 Billion in closed loans and $100 Million in bridge and direct lending,we will get you to the closing table … plain and simple – #thatsPROGRESS

https://www.progresscapitaladvisors.com