$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
