Progress Capital Arranges Financing for Purchasing Apartment Portfolio in Connecticut

John Libretti of Progress Capital secured a $4,250,000 acquisition loan for Tyler Smith, CEO of Alpha Capital Funds to purchase a value-add apartment portfolio totaling 49-units ideally situated in central Connecticut’s downtown Middletown area.

To secure the best financing terms available, John worked closely with Kyle Shea of Stormfield Capital, who provided the loan.

The portfolio includes four buildings having a unit mix of 2 studio, 16 one-bedroom and 31 two-bedroom apartments situated on Hillside Avenue and E. Main Street in Middletown, a charming business district nestled along the Connecticut River.  The area boasts over 40 restaurants for the ultimate culinary experience, as well as offers an array of artisanal shops, retail boutiques, and cafés.

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.