Progress Capital Arranges $6.8 Million In Refinancing For Properties In Cali
John Libretti of Progress Capital secured $6,800,00 in refinancing for a client’s 3-Property Real Estate Portfolio with locations in West Hollywood and Beverly Hills, CA.
JP Morgan Chase provided loan proceeds accompanied by favorable terms including interest rate in the mid 2% range based on 30-year amortization with no prepay.
The real estate portfolio includes (2) multifamily buildings totaling 6-units and (1) single-family residential dwelling. The locations include Huntley Drive and N. Genesee Avenue, situated in prime West Hollywood, CA. The best restaurants and boutiques can be found on Melrose Avenue, which is just a block away. The property’s unit mix consists of (2) two-bedroom/2 bath units and (1) charming loft studio. The grounds feature lush landscaping, a large outdoor patio and backyard for entertaining, as well as 6 onsite parking spaces for residents to utilize. This single-family home is located on Park Way in The Flats neighborhood of Beverly Hills 90210. The property has 6 bedrooms/5 baths and approximately 4,161 SQFT of floor space.
John’s experienced in evaluating, purchasing and reselling investment properties on behalf of his clients, combined with his proficiency in underwriting and negotiating positions him as a specialist in commercial real estate financing. He is able to use this experience in order to advise, originate and close transactions on behalf of high net worth individuals.
Progress Capital is a commercial real estate mortgage advisory company specializing in arranging debt for commercial real estate owners and developers since 1990 and has closed over $40 Billion in commercial loans and over $150 Million of directly funded bridge loans.