PROGRESS CAPITAL | Philadelphia, PA – $5,200,000
18462
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Philadelphia, PA – $5,200,000

Category
Multi-Family, Retail
About This Project

$5.2 Million Acquisition Enhances Client Portfolio in Philadelphia Area

 

Philadelphia, PA – Brad Domenico, Managing Partner at Progress Capital, secured a $5,200,000 loan for a valued client to acquire a mixed-use loft apartment building in Philadelphia, PA consisting of 55 residential units and one commercial space.

 

The two-story building known as the Keystone Lofts, contains 89,575 gross SF and is located at the corner of Keystone Street and Cottman Avenue in the Tacony neighborhood of Philadelphia.

 

Brad worked with Red Capital Markets, LLC to negotiate the following key terms;

  • 4.77% fixed for 5 years
  • 20 Year Term
  • 30 Year Amortization
  • 65% LTV
  • Non-Recourse

 

Progress Capital is a leading Commercial Mortgage Banking firm specializing in arranging debt for commercial real estate owners and residential developers. Since 1990, Progress has successfully closed in excess of $40 Billion in commercial loans and directly funded over $150 Million.

 

We Get You to the Closing Table… Plain and Simple – #thatsPROGRESS.