PROGRESS CAPITAL | Challenging Year-End Closings…DONE!
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Challenging Year-End Closings…DONE!

Challenging Year-End Closings…DONE!

15:22 02 February in News & Talk

At Progress Capital Advisors, we know all deals are different. Some are challenging, but we can handle the stress so you don’t have to. In fact, the demanding projects help keep us at the top of our game. Whether it’s traditional, well secured financing or something a bit outside of the box, we are here to guide you through the closing, Plain and Simple.
 
Kathy Anderson has been the President of Progress Capital since 1990. Together with Brad Domenico and their team, they have closed over $30 Billion of commercial loans in the Tri-State area.

$10,555,000
Hoboken, NJ

Apartment Building
30 Luxury Units
 
Construction to Permanent Loan

$5,600,000
Queens, NY

Apartment Building
34 Units
 
Permanent Loan
3.125%, 10/30

$4,000,000
Williamsburg, NY

Land Acquisition
3 Contiguous Lots
 
Bridge Loan
Direct Funded


The Challenge:

Forty-five day time of essence closing.

The Outcome:

Progress arranged a 70% land acquisition loan, without the requisite approvals coupled with a construction loan for the building subject to approvals. The Bank provided a permanent conversion if the Borrower opts to convert with them.

The Challenge:

Multi-family property not yet stabilized.

The Outcome:

The Progress Team had the loan committed in anticipation of closing prior to stabilization the property. When the last lease was signed, our long-term relationship with the Bank allowed us to move quickly, efficiently and meet the client’s deadline.

The Challenge:

15 days to secure a bridge loan.

The Outcome:

Progress Capital closed a bridge loan within 15 days, allowing our client to close on three contiguous land parcels with different sellers. This extremely valuable assemblage was made possible by our ability to directly funded the loan in this short timeframe.



news-and-talk-year-end-challenge-progress-capital-eighty6-rates-02

Fixed Rate    |   Construction   |    Specialty Financing    |   Direct Funded


 

For more information, please call our office to speak to a Loan Specialist



Kathy Anderson

(732) 720-6301

David Cappello

(732) 720-6308

Mark Tinio

(732) 720-6305



Brad Domenico

(732) 720-6304

Mary Schneider

(732) 720-6303

Patricia McKenna

(732) 720-6309



Bill Howard

(732) 720-6306

Fred Santos

(732) 720-6307

Lilly Preziose

(732) 720-6302