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$5.265 Million Secured with 12 Months Interest-Only for Acquisition of Union City Multifamily
Brad Domenico, Partner at Progress Capital, Negotiated the Amount and Terms of the Loan on behalf of the borrower.
By: Progress Capital
Representing 75% of the subject property acquisition cost, this loan includes a 12-month interest-only period at a rate of 3.86%. In addition, Domenico arranged an initial 5 year fixed-rate period at 3.68% with a 20-year term and 30-year amortization. The loan is non-recourse and includes a declining pre-pay schedule.
Progress Capital is a Commercial Real Estate Mortgage Brokerage Firm specializing in arranging debt for commercial real estate owners and developers of mixed-use, multi-family, construction, industrial, retail, office and commercial storage properties. With an unrivaled network of lending partners and capital market relationships we have arranged over $40 Billion in Transactions and Directly Funded over $150 Million. We get you to the closing table – plain and simple. #thatsPROGRESS
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