$15,000,000 Non-Recourse Line of Credit Secured for Expansion of 1-4 Family Portfolio

Progress Capital's David Cappello Negotiated the Amount and Terms of the Line of Credit on Behalf of a Valued Client.
TINTON FALLS, N.J. - April 24, 2018 - PRLog -- David Cappello of Progress Capitalnegotiated a $15,000,000 line of credit for a valued client to acquire multifamily buildings in the Hudson and Essex county markets. The client has a successful history purchasing under-performing small multifamily properties, condos and single-family rental homes, subsequently renovating and returning them to the market at market rates. The borrower sought to secure a flexible financing solution that would afford them the liquidity to make immediate purchase decisions wherein traditional financing would undermine their bargaining potential.

Cappello has a history of working with small to medium size businesses and client portfolios seeking to secure the working capital necessary to expand without over leveraging. David suggested and arranged a non-recourse revolving line of credit with a 24-month term that the client can draw upon immediately (up to 80% purchase price) for acquisitions.

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

Learn More About This and Other Recently Closed Transactions At:

Matt Sadler
Email:***@progresscapital.com Email Verified
Tags:Line Of Credit, Multifamily, Real Estate Portfolio
Industry:Real Estate
Location:Tinton Falls - New Jersey - United States
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