Progress was contacted by a client who was purchasing three contiguous retail/mixed-use properties which were substantially vacant. The client required funds to acquire the property as well as renovation costs. Progress was able to arrange an Acquisition and Renovation Loan which included a 24 month interest only period converting to a 5 year fixed rate, upon completion and stabilization. The loan also provided the Borrower the flexibility to exit during the 24 month interest only period without an exit fee.
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