PROGRESS CAPITAL | David Cappello Arranges $2,000,000 in Commercial Mortgage Financing for East Orange Multi-Family Rehab
Dave Cappello of Progress Capital Advisors arranged $2,000,000 to refinance the existing debt and provide funds for continued renovations of two East Orange multi-family properties. The two properties total 20 units with 39 parking spaces. Since the buildings have significant vacancy and will undergo a renovation, flexible terms were a consideration in choosing a lending partner.
david cappello commercial mortgage lending financing new jersey real estate new york east orange new jersey multi-family property
14807
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East Orange, NJ – $2,000,000

Category
Construction, Multi-Family
About This Project

 

$2,000,000 for East Orange Multi-Family Rehab

 

Dave Cappello of Progress Capital Advisors arranged $2,000,000 to refinance the existing debt and provide funds for continued renovations of two East Orange multi-family properties.  The two properties total 20 units with 39 parking spaces.  Since the buildings have significant vacancy and will undergo a renovation, flexible terms were a consideration in choosing a lending partner.  Loan terms include:

 

  • 10 Year Term
  • 4% Fixed for 5 Years
  • 12 Months Interest Only
  • Limited Recourse
  • 30 Year Amortization

 

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