Closed Loans

$5,850,000 | 20 Year Fixed Rate | 2 Years Interest Only

Progress Capital arranged $5,850,000 in financing for a valued borrower to refinance and reposition The Galleria at Marlton | Marlton, NJ.  A portion of the loan proceeds will retire the existing mortgage on the property, allowing the client to cash out an additional $2,100,000 for renovations and tenant fit-out.  This loan represents a 75% LTV on the ‘as is’ appraised value of the property.  Loan terms include:

  • 24 Months Interest Only at WSJ Prime
  • 20 Year Forward Rate Lock Fixed at Closing after the I/O Period
  • Swap Breakage During Permanent
  • 30 Year Amortization / Term

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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