Progress Capital | The Funding Source was appointed by a private REIT to sell a 14,465 SF retail property leased to Walgreens with a CMBS loan that is not prepayable until 2019. “A condition of the sale was the approval and assumption of the CMBS loan by the purchaser which Progress Capital arranged” said Bill Howard. The fact that the existing financing had to be assumed, allowed the purchaser to obtain better pricing at a cap rate above market.
Advantages of CMBS Loans:
Progress Capital Advisors’ loan programs include Fixed Rate Loans, Construction and Specialty Financing as well as Direct Lending for Bridge Loans. With over $40 Billion in closed loans and $100 Million in direct lending, we will get you to the closing table … plain and simple.