Progress Capital Secures $14.5 Million Refinancing for Brooklyn Portfolio
Progress Capital’s Managing Director, Brian Anderson arranged a $14.5 million refinancing deal for a portfolio of six properties in Brooklyn, NY.
The loan terms feature an impressive 6.65% fixed rate for a period of 5 years.
Strategically located on vibrant Nostrand Avenue in Brooklyn, these properties collectively comprise a 42-unit portfolio. This includes 18 residential units and 24 commercial units housed within buildings ranging from three to four stories, spanning from 2,540 to 9,628 square feet.
Nestled in the bustling Crown Heights neighborhood, this portfolio provides convenient access to a wide array of local and national retailers, rendering it highly appealing to both tenants and investors. Its proximity to renowned attractions such as the Brooklyn Botanic Garden and Prospect Park Zoo further enhances its allure.
Progress Capital is a commercial mortgage advisory firm specializing in custom financial solutions for various commercial real estate transactions. With over $40 billion in closed loans, we offer optimal capital options for refinancing deals, acquisition loans, and bridge financing, all tailored to meet our client’s specific objectives. Our dedication to excellence and client satisfaction makes us a trusted partner in commercial real estate finance.
