PROGRESS CAPITAL | Jersey City, NJ – $3,100,000
14319
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Jersey City, NJ – $3,100,000

Category
Construction, Multi-Family
About This Project

$3.1 Renovation Loan

Over the past decade, Progress Capital has arranged over $2 Billion in commercial real estate loans to help renovate, restore and refinance buildings throughout Jersey City, NJ. As relationships with trusted clients grow stronger, alliances with new clients focused on the ‘Gold Coast’ continue to expand. Progress Capital is expert in knowing how to evaluate and source funds to help our clients acquire new CRE or refinance existing CRE to expand their portfolio and bottom line.
 
Managing Director, Brad Domenico closed two  Acquisition/Construction loans in Jersey City totaling $3,117,500 for two multi-family/mixed-use properties for the same borrower. Both properties were delivered vacant and the loans included both acquisition and renovation funds allowing the buildings to be repurposed into 7 luxury condominiums for sale. The loan terms provided a 24 month term at 4% Interest Only to allow enough time for renovation and sale of the units.
 
Progress Capital specializes in arranging 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.
 
Tell us your commercial real estate financing goals and our team will be pleased to provide a complimentary strategy for your business.