$29 Million — 80% LTV for Family Owned and Operated MF Property
Brad Domenico of Progress Capital arranged $29,000,000 in financing for a 240 unit MF property in the suburban submarket of Hardyston, NJ. The property is family owned and operated for over 25 years and the borrower was able to lock in a market rate while achieving a $5 Million cash out.
The loan included the following terms:
- 80% LTV
- 10 Year Term / 30 Year Amortization
- Declining Prepay
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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