$2.8 Million in Refinancing Arranged

John Libretti of Progress Capital secured mortgage refinancing totaling $2,800,000 for a valued client to pay off the existing debts on (4) four owned properties located throughout New Jersey.

Libretti worked with Manasquan Bank, who provided the most competitive refinancing rates available. The sponsor will use the funds to pay off the existing mortgage debts on the following four properties:

• (2) 2,400 SQFT circa 1926 multi-family properties situated on Lum Avenue in Chatham, NJ
• (1) 3,200 SQFT single-family residential dwelling located on Gates Avenue in Summit, NJ
• (1) 15,268 SQFT two-story, Class B flex building sited on Howe Street in Point Pleasant, NJ

Progress Capital is a commercial real estate advisory firm with over $40 Billion in closed loans and $150 Million of directly funded bridge loans.  Since 1990, we have been providing Honest Advice and Expert Execution in order to help our clients get to the closing table… plain and simple!