70% LTV Secured For Refinance of Franklin, Ohio Waterford Pointe Apartment Complex
Brad Domenico, of Progress Capital, Negotiated the Amount and Terms of the Loan with M&T Bank
By: Progress Capital
The non-recourse loan represents a 70% LTV accompanied by a 10-year term, 30-year amortization and declining prepay. The first two-years of the loan are interest-only. Domenico negotiated a low 4.65% interest-rate fixed for the loan term. The proceeds of the loan will be used by the borrower to complete some minor renovations to the property and cash-out a significant amount of equity that will be used to acquire additional multifamily assets throughout the Ohio area.
Progress Capital is a leading Commercial Mortgage Banking firm specializing in arranging debt for commercial real estate owners and residential developers. Since 1990, Progress has successfully closed in excess of $40 Billion in commercial loans and deployed over $150 Million through their direct lending platform.
Learn More About This and Other Recent Transactions at: