Myrtle Beach, South Carolina –On behalf of a repeat client, Abe Mann closed a $2,650,000 loan to refinance Chicora Apartments, a 34-unit property located in South Carolina. Since its acquisition in 2018, the sponsors completed a strong lease-up schedule to bring rents up to market-rate.
Abe successfully arranged the Non-Recourse permanent financing with the following key terms:
Progress Capital is a leading Commercial Mortgage Banking firm specializing in arranging debt for commercial real estate owners and developers. Since 1990, Progress has successfully closed in excess of $40 Billion in commercial loans and directly funded over $150 Million.