Closed Loans

$4,300,000 Secured in Residential Portfolio Refinance

Progress Capital Secured $4,300,000 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

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