75% LTV on Newark Multi-Family Property
Newark, NJ – Brad Domenico of Progress Capital arranged $2,100,000 in financing for a multi-family asset with 25 rental units on Goldsmith Avenue. The borrower, having previously renovated and repositioned the aforementioned property, will use the proceeds of the loan to refinance the existing debt, recapture $600,000 in equity and cash-out $200,000. The proceeds will be used to fuel the continued expansion of our client’s robust portfolio.
Terms of this loan include:
• 3.875% Fixed for 5 Years
• 10 Year Term
• 30 Year Amortization
• Declining Pre-Pay
Progress Capital is a CRE mortgage 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