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Follow on Google News | $1,235,000 Arranged for Newark Broad Street Gut Renovated Multifamily AcquisitionBrad Domenico of Progress Capital Advisors Secured Financing with Regal Bank.
By: Progress Capital Advisors Domeninco arranged the $1,235,000 non-recourse permanent loan, representing a 65% loan to purchase price, with Regal Bank of New Jersey. Repayment terms include a declining prepay schedule of 4-3-3-2-1 and 0 thereafter. The loan is based on a 30 year term with a 30 year amortization with a 5 year initial fixed rate of 3.875%. After the initial 5 year fixed period rate will reset at UST +250 bps. 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 Visit us online to see more representative transactions, news and CRE industry resources at [ http://www.progresscapitaladvisors.com ] End
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