Progress Capital Arranges $2.9 Million in Refinancing for Multifamily Portfolio in New Haven, CT

Abe Mann and Evan Boles of Progress Capital secured $2,900,000 to refinance a package of three multifamily properties located in New Haven, CT. The properties total 23 units and were acquired between 2017-2019.

Upon acquisition, the sponsors were successful in completing full gut renovations and substantially increasing their NOI. The borrowers then approached Abe who arranged with a federal credit union the 75% LTV cash out refinance with a 3.65% fixed rate, 10-year term and no prepayment penalty for duration of the loan.

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.  We consistently get our clients to the closing table… plain and simple!