Brad Domenico Secures $3.4 Million for Acquisition of Historic Multifamily Asset in Newark, NJ
With latest Newark acquisition loan, Progress Capital Advisors funds over $100 Million in CRE assets.
By: Progress Capital Advisors
The loan is secured by a 6-story elevator equipped building with 58 units including 4 studio, 27 one-bedroom and 17 two-bedroom apartments. At a purchase price of $4,500,000 and with borrower equity of $1.2 Million this loan represents a 75% loan to purchase. The term of the loan is 12 years at a rate of 3.625% fixed for 7 years and a declining pre-payment schedule.
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.
Brad Domenico | Progress Capital Advisors | Managing Director
(908)433-7467 | firstname.lastname@example.org
Page Updated Last on: Sep 21, 2017