Progress Capital Secures $3.2 Million to Refinance a Mixed-Use Portfolio in New Jersey
Vice President, Frank Stanislaski of Progress Capital arranged a $3,200,000 loan for a client to refinance four (4) properties located throughout New Jersey.
During the loan process, Frank endured more than one challenge including the borrower’s complex history, the ongoing volatility in the markets and difficulties in underwriting credit risk resulting from the pandemic. Nonetheless, Frank managed to tackle the set of hurdles and bring the deal to a close with favorable terms provided by Cross River Bank.
The real estate portfolio consists of a mixture of three (3) residential buildings and one (1) mixed-use building containing seven (7) apartment units and a restaurant rental space on the ground level.
Progress Capital is a commercial real estate advisory firm with over $40 Billion in closed loans and $150 Million of directly funded bridge loans. Since 1990, we have been providing Honest Advice and Expert Execution in order to help our clients get to the closing table… plain and simple!