Brad Domenico Arranges 80% LTV for Acquisition of Millburn Medical Office
The medical office building located at 90 Millburn Avenue in downtown Millburn, NJ recently changed hands in an $8,500,000 transaction. Brad Domenico negotiated a $6,800,000 permanent mortgage, or 80% LTV, for his client to purchase the property, adding to an already robust commercial real estate portfolio. Encompassing 21,834 SF over two floors, the building is divided into 11 individual units and was fully occupied at the time of purchase by 9 medical tenants.
Accompanying the loan is a 7-year fixed rate at 4.75% with a 15-year term and 30-year amortization. The loan may be repaid without penalty at any time.
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