PROGRESS CAPITAL | Matawan, NJ – $5,900,000
13492
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Matawan, NJ – $5,900,000

Category
Multi-Family
About This Project

Matawan, NJ

This is a non-recourse permanent loan on a 72 unit multi-family property.  The loan closed at a rate of 3.62% with a term of 10 years based on a 25 year amortization.  This loan presented a financing challenge when the seller required the purchasers to sign a Non-Contingent Contract.  Progress was tasked with obtaining a bank commitment prior to a contract even being drafted or executed, so that purchasers were in a position to execute the Non-Contingent Contract.