$1,012,500 Secured for Acquisition of Bow-Tie Cinemas

Brad Domenico arranged $1,012,500 in financing for a valued client to acquire the 20,000 SF Bow-Tie Cinema Building located at 409-415 14th Street in Hoboken.  Bow-Tie Cinemas owns and operates 59 locations in Colorado, Connecticut, Maryland, New Jersey and Virginia – ranking as the 8th largest movie theater chain in the US. Upon acquisition, 10 years remains on a 20 year ground lease with automatic 15% rate increases every 5 years and two 5 year term renewal options. Valued at $1,350,000 this loan represents a 75% loan to purchase price.

Additional key terms of this loan include:

• 4.3% Fixed for 5 Years
• 3-2-2-1-0 Declining Prepay
• 10 Year Term
• 25 Year Amortization
• Limited Recourse

Progress Capital is a commercial real estate advisory company serving clients since 1990. With over $40 Billion in closed loans and $150 Million of directly funded bridge loans, we will get you to the closing table… Plain and Simple. #thatsProgress

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