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Follow on Google News | $4.32 Million Arranged for New 40-Unit Multifamily Construction in Passaic, NJManaging Partner at Progress Capital, Kathy Anderson, Negotiated the Amount and Terms of the 36-Month Interest-Only Loan
By: Progress Capital Anderson negotiated a 36 month interest-only loan floating at one-month LIBOR + 310bps. The loan represents 75% LTC and a 68% loan to stabilized value. The borrower may repay the loan in full at anytime without penalty. Progress Capital is a Commercial Real Estate Mortgage Brokerage Firm specializing in arranging debt for commercial real estate owners and developers of mixed-use, multifamily, 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. Learn More About This and Other Transactions at: http://www.progresscapital.com End
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