Progress Capital Arranges $9.4M Loan for Acquisition of CRE Portfolio in Southern Markets
Caillin Boles of Progress Capital secured $9,400,000 in acquisition financing for a New York-based investment firm to purchase a real estate portfolio consisting of (4) commercial properties positioned in several fast-growing Southern states including North Carolina, Tennessee, Oklahoma and Florida.
By working closely with all parties involved, Caillin accomplished a smooth and efficient closing experience.
Loan terms include:
- $9,400,000 Loan Amount
- 3.40% Fixed for 10-Years
- 25-Year Amortization
Each and every market comes with its own unique risks and challenges. While the south is more highly impacted by tornadoes and hurricanes each year, the north almost always has the guarantee of snow and cold-weather issues that the south typically does not.
If we look at the South versus northern and western real estate markets, there’s one detail that stands out and that is, the South gives investors more bang for their buck. Multiple factors contribute to the relative affordability of southern properties including reduced cost of living, lower sale prices for land, more affordable construction labor, materials and so on.
Progress Capital was established in 1990 and has closed over $40 Billion in commercial loans and $150 Million in directly funded bridge loans. As a commercial real estate mortgage 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.
Real estate can be one of the best investments for generating consistent income. If you’re considering investing in commercial real estate, contact our office 212-400-7151 or visit us at progresscapital.com