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$1.425 Million Secured for Acquisition of Newark Multifamily Building
Brad Domenico of Progress Capital Advisors arranged Financing for a valued client.
Domenico was able to arrange a permanent loan of 1,425,000 – representing a 75% LTV, for the borrower to purchase the property. As of the time of purchase, the borrower did not intend to make any capital improvements to the premises and the building is already fully leased. Additional key terms of this loan include a 12 month interest-only period with a rate of 3.9% fixed for 5 years on a term of 20 years and 30 year amortization.
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