PROGRESS CAPITAL | New Haven, CT – $4,300,000
18550
portfolio_page-template-default,single,single-portfolio_page,postid-18550,ajax_fade,page_not_loaded,,qode-child-theme-ver-1.0.0,qode-theme-ver-2.7,wpb-js-composer js-comp-ver-5.4.7,vc_responsive

New Haven, CT – $4,300,000

Category
Multi-Family
About This Project

$4,300,000 Secured in Residential Portfolio Refinance 

 

New Haven, CTAbe Mann, Vice President at Progress Capital, arranged a $4,300,000 loan to refinance a portfolio of 12 residential investment properties located in New Haven, CT.

 

The subject properties are all between 1-3 units and were acquired and renovated over the past 24 months. The portfolio is currently over 95% occupied. With stable cash flow, Abe was able to negotiate a substantial cash-out for the borrower which will be used towards continued expansion of their investment portfolio.

 

Abe worked with a local community bank to secure the following key terms:

 

  • 75% LTV
  • 5.50% Fixed for 5 Years
  • 10 Year Term
  • 25 Year Amortization
  • Flexible Prepay Structure

 

Progress Capital is a leading Commercial Mortgage Banking firm specializing in arranging debt for commercial real estate owners and residential developers. Since 1990, Progress has successfully closed in excess of $40 Billion in commercial loans and directly funded over $150 Million.