Brad Domenico Featured in Mid Atlantic RE Journal’s “Thriving Under 40” Spotlight
Progress Capital is proud to announce that our partner, Brad Domenico has been recognized once again for all his efforts in the industry in this years “Thriving Under 40” Spotlight for Mid Atlantic Real Estate Journal.
Working as a commercial real estate mortgage broker in the NY Metro area requires the need to have a strong mindset and possess leadership qualities. This is how Brad thrives. Read his full interview below…
What is your greatest professional accomplishment?
Continually closing over $1 Billion in transactions annually.
What is your most notable project, deal, or transaction?
I’ve been fortunate to have many, but a few stand out:
• $197 Million acquisition loan for Vision Properties/Hana Financial for the purchase of 70 Hudson Street in Jersey City
• $130 Million refinance of the Memorial Sloan Kettering Cancer Center on 330 East 62nd Street, NYC for Maddd Equities
• $113 Million for an 816,000 SF office portfolio in Newark, NJ for Hanini Group/SHIFT Capital
How do you contribute to your company and/or the industry?
After recognizing the need for accessible capital in real estate transactions, I spearheaded the launch of Progress Direct in 2016. This direct lending platform aims to bridge the gap between traditional financing avenues and the evolving needs of real estate professionals. Progress Direct has successfully closed over $150 Million in directly funded bridge loans.
Arranging the capital needed for these projects, affects not only on the debt markets, but the real estate sales market as well. With proper financing, more transactions are completed, contributing to community improvement and economic growth.
Seeing a building go up in an area in need of redevelopment brings a sense of fulfillment, knowing that my efforts have played a part in changing the neighborhood for the better.
Who or what has been the strongest influence in your career? I have to say my mother, because growing up I’ve witnessed her extraordinary determination to succeed in commercial real estate, a ‘male-dominated’ industry. As the founder of Progress Capital, I find her to be a great role model.
What impact has social media/networking had on your career?
The recognition I’ve received in industry publications such as MAREJ, GlobeSt, The Real Deal, NJBIZ, NYREJ, NAIOP, Industry Magazine and Commercial Observer has not only validated my efforts, but also affirms my position as a respected figure within the CRE industry.
Some notable titles I’ve received include “Top Broker of the Year”, “Largest Multifamily Acquisition Loan”, “Best Out of State Deal”, “Deal of the Year”, “One’s to Watch-Rising Stars”, “Best Student Housing Project”, “Top Young Debt & Equity Professional”, “Top 25 Under 35”, “Power Player” and “40 Under 40”.
These publications are highly regarded within the industry, making my achievement all the more meaningful and speak of my ability in making a positive difference in communities, fostering sustainable development, and creating opportunities for growth and prosperity.
Tell us how and when you began your career in the profession you are in, about your current position and why you choose the field/profession you are in today.
After graduating, I went to work on Wall St. shortly before the financial crisis and was fortunate enough to build a lot of very broad relationships. My interest in real estate gravitated me toward the capital markets/debt aspect of CRE. I started out slow, like most young entrepreneurs in the business, but quickly gained recognition for my integrity in dealing with owners and lenders.
Today, I hold a significant position as a partner in the firm, overseeing a team of financial analysts. My role is centered around client-facing loan origination and placement, which includes structuring the capital stack of senior, mezzanine/preferred and LP equity. I work closely with my clients from the first meeting through the closing process, to achieve the best terms available in the market. We have a team approach to servicing our clients and prefer personalized service over volume.
My profession as a CRE mortgage broker, allows me to play a vital role in improving communities through commercial real estate financing.
What unique qualities and or personality do you feel makes you most successful in your profession?
Working as a commercial real estate mortgage broker in the NY Metro area requires the need to have a strong mindset and possess leadership qualities. These are the qualities that allow me to thrive:
• Find gratification in helping clients accomplish their goals, while improving communities
• Never being complacent, constantly seeking ways to improve personally and professionally
• Provide continuous support to team members so they may grow and succeed
My deals comprise of high-profile transactions along the East Coast with a focus in the Tri-State area. I work side-by-side with my clients who are, by way of example, redeveloping communities, repurposing buildings and even building charter schools.
By having a commitment and obligation to be an advocate for my clients and by extension, I am able to contribute to community gentrification which is very rewarding.
A successful track record of consistently closing over $1 Billion in loan transactions annually, has positioned me to be highly regarded within the CRE industry and sought out by both institutional and high network family offices to aid in securing optimal financing options for them.
What outside activities do you enjoy during you free time?
As a husband and father to 2 young boys, my favorite activities and hobbies outside of work are usually spent with my family. We love going to the zoo, the park, and the beach. Being on the golf course with clients or good friends is definitely high up there on the list.
What inspiring word of advice would you give to a young executive graduating from college today?
Knowledge is powerful, so never stop learning – your success is dependent on you.
Always give more than what is expected and you’ll find the turn-out to be both personally gratifying and professionally effective.
With discipline, perseverance, teamwork and an unstoppable attitude, you’ll not only thrive, but you’ll also inspire others to unleash their own competitive spirit.
For those entering the industry, you need to have excellent communication skills and a very thick skin. There are so many ways that transactions can go sideways during the process, and being able to quickly evaluate the options and pivot is critical for success.
Visit https://online.flippingbook.com/view/255616691/18/ to see the article and check out some of the other professionals featured.
Connect with Brad to discuss your CRE financing needs!
732-720-6304 | brad@progresscapital.com
