Progress Capital arranged a 7-year fixed rate loans at 3.75% on a 16,807 sf retail pharmacy building sub-leased to CVS. The borrower will use proceeds of the loan to pay-off the outstanding balance of the current mortgage loan on the property, as well as pay pre-payment penalties and associated closing costs. The remainder represents a recovery of available equity which the principals will use to fund future real estate related opportunities.
Progress Capital is a commercial real estate advisory company serving clients since 1990. With over $40 Billion in closed loans and $150 Million of directly funded bridge loans, we will get you to the closing table… Plain and Simple. #thatsProgress