Hightstown, NJ – Brad Domenico of Progress Capital Advisors secured a $1,892,000 bridge loan for a valued borrower to demolish a previously acquired 31,400 SF Class C warehouse to be re-zoned for mixed-use. The borrower plans to build 34 townhomes on the property which is the first phase of a larger 222,382 SF community featuring residential, retail and office space to be built around the subject location.
The terms of this bridge loan include:
• 12 Months Interest Only
• Yield Maintenance – 3 Months
• 12% Interest Rate
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