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$1,666,000 Cash-Out to Borrower in $3.6 Million Refinance of Perth Amboy Retail Building
Brad Domenico of Progress Capital Advisors Negotiated the Terms of the Loan on Behalf of the Client.
By: Progress Capital
The proceeds will be utilized by the borrower to retire existing debt on the property and recapture $1,666,000 in equity that will fuel the borrowers continued acquisitions of retail, mixed-use and multifamily buildings throughout New Jersey. This loan represent a 65% loan to value and is accompanied by a 7 year fixed rate of 4.25% amortized over 30 years with a five year extension option.
Progress Capital loan programs include Fixed Rate Loans, Construction and Specialty Financing as well as Directly Funded Bridge Loans. With over $40 Billion in closed loansand $100 Million in bridge and direct lending, we will get you to the closing table … plain and simple. #thatsPROGRESS
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