$24 Million – 85% LTV for Multifamily
Partner, Brad Domenico led the Progress Capital team in arranging a $24 Million refinance at 85% Loan to Value for a 15 building, 180 unit garden-style apartment complex in Flemington, New Jersey.
The permanent loan carries an interest rate of 3.625% at a term of 10 years based on a 30 year amortization which has generated increased cash flow and provided the client the ability to recapture equity for future investment opportunities.
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