$7,250,000 Jersey City Refinance Nets $2,200,000 Cash-Out to Borrower

Brad Domenico of Progress Capital Advisors Arranged Financing
By: Progress Capital Advisors
151 Sip Ave Jersey City
151 Sip Ave Jersey City
JERSEY CITY, N.J. - Aug. 16, 2017 - PRLog -- Brad Domenico of Progress Capital Advisors arranged $7,250,000 for a client to refinance his apartment building in Jersey City.  The newly renovated and stabilized 42-unit apartment building is located in the historic downtown area just one block from both Journal Square and the PATH station.

The borrower sought to a) lock in a lower long-term rate and b) recapture equity to fund future commercial real estate transactions.  Domenico was able to secure a 75% LTVallowing the borrower to net $2,200,000 cash out.

Additional Key terms of this loan include:

 3.875% Fixed for 7 Years 7 Year Term 30 Year Amortization 75% LTV Declining Pre-Pay Non-Recourse

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

View this and other representative transactions from the Team at Progress.

Media Contact
Matt Sadler

Source:Progress Capital Advisors
Email:***@progressnj.com Email Verified
Tags:Jersey City, Real Estate Jersey City, Progress Capital
Industry:Real Estate
Location:Jersey City - New Jersey - United States
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Page Updated Last on: Aug 18, 2017

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