New Haven, CT – Abe 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:
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.