Progress Arranges $5.17MM Refi Loan for Real Estate Portfolio
John Libretti of Progress Capital secured $5,175,000 in refinancing for a CRE portfolio consisting of 4 properties located in East Northport, NY, owned by Allon Avgi, Founder and CEO of AVGI, LLC.
The lender provided loan financing yielded by a 5-year fixed rate loan with an attractive interest rate of 5.875%.
The asset properties contain a combined count of 29, featuring 9 commercial and 20 residential units, all located along Laurel Road in the town of East Northport of Suffolk County, NY. The town is located on the North Shore of Long Island and is known for its secluded deep-water harbor, beautiful parks and beaches.
Refinancing loans can be the best way to pay off existing debt, and it can also be used for equity. If you’re looking to refinance your commercial loan, contact John Libretti today.
Since 1990, Progress Capital has closed over $40 Billion in commercial loans and $150 Million in directly funded bridge loans. As a commercial real estate advisory firm, we can advise you on any real estate investment you are considering and provide the financing advice you need to manage through the commercial real estate acquisition and/or financing process.