$4,300,000 Secured in Residential Portfolio Refinance
Abe Mann, Vice President at Progress Capital, arranged a $4,300,000 loan to refinance a portfolio of 12 residential investment properties located in New Haven, CT.
The subject properties are all between 1-3 units and were acquired and renovated over the past 24 months. The portfolio is currently over 95% occupied. With stable cash flow, Abe was able to negotiate a substantial cash-out for the borrower which will be used towards continued expansion of their investment portfolio.
Abe worked with a local community bank to secure the following key terms:
- 75% LTV
- 5.50% Fixed for 5 Years
- 10 Year Term
- 25 Year Amortization
- Flexible Prepay Structure
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