PROGRESS CAPITAL | Hoboken, NJ – $1,012,500
16591
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Hoboken, NJ – $1,012,500

Category
Retail
About This Project

$1,012,500 Secured for Acquisition of Bow-Tie Cinemas

 
Hoboken, NJBrad Domenico arranged $1,012,500 in financing for a valued client to acquire the 20,000 SF Bow-Tie Cinema Building located at 409-415 14th Street in Hoboken.  Bow-Tie cinemas owns and operates 59 locations in Colorado, Connecticut, Maryland, New Jersey and Virgina – ranking as the 8th largest movie theater chain in the US. Upon acquisition, 10 years remains on a 20 year ground lease with automatic 15% rate increases every 5 years and two 5 year term renewal options. Valued at $1,350,000 this loan represents a 75% loan to purchase price.
 
Additional key terms of this loan include:
 

  • 4.3% Fixed for 5 Years
  • 3-2-2-1-0 Declining Prepay
  • 10 Year Term
  • 25 Year Amortization
  • Limited Recourse

 

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

 


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View Press Release
 
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