Progress was contacted by a client who was purchasing three contiguous retail/mixed-use properties which were substantially vacant. The client required funds to acquire the property as well as renovation costs. Progress was able to arrange an Acquisition and Renovation Loan which included a 24 month interest only period converting to a 5 year fixed rate, upon completion and stabilization. The loan also provided the Borrower the flexibility to exit during the 24 month interest only period without an exit fee.
Progress Capital Advisors’ loan programs include Construction, Fixed Rate Loans and Specialty Financing, as well as Directly Funded Bridge Loans. With over $40 Billion in closed loans and $150 Million in direct lending, we will get you to the closing…plain and simple…#thatsPROGRESS