PROGRESS CAPITAL | Aberdeen, NJ – $1,725,000
16586
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Aberdeen, NJ – $1,725,000

Category
Retail
About This Project

Brad Domenico Arranges $1,725,000 in Financing for Newly Constructed Aberdeen Starbucks

 
Aberdeen, NJProgress Capital’s Brad Domenico was approached by ‘Aberdeen Retail Partners’ seeking to refinance a newly constructed building located at 1109 Route 34 in Aberdeen, NJ. The property is subject to a NNN lease with Starbucks Coffee. Constructed in 2017, the borrower sought to refinance $1,275,000 exiting their construction loan to a permanent mortgage.  Appraised at $2,300,000, Domenico negotiated a $1,725,000 CRE Mortgage, representing a 74% loan to cost.
 
Key Terms of this loan include:
 

  • 4.45% Fixed for 7 Years
  • 3 Year Rate Reset
  • 10 Year Term with Final Balloon Payment
  • 30 Year Amortization
  • Limited Recourse
  • 3-3-2-2-1-1-0 Prepayment Schedule
  • Up to 10% Prepayment Per Year w/out Penalty

 
Progress Capital Advisors loan programs include Fixed Rate Loans, Construction and Specialty Financing as well as Directly Funded Bridge Loans. With over $40 Billion in closed loans and $100 Million in bridge and direct lending, we will get you to the closing table … plain and simple. #thatsPROGRESS

 


CONTINUED READING:


 
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Brad Domenico Negotiates 3.75% on $2.04 Million with 5 Years I/O for NJ Multifamily Acquisition
 
$2.5 Million to Acquire Brooklyn Multifamily Asset
 
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