NEWARK & EAST ORANGE, NJ – Progress Capital Advisors recently closed five loans totaling over $7 Million to help grow the real estate investment portfolio of legacy a client. Over the last six months, the borrower acquired 10+ multi-family properties across New Jersey. Brad Domenico of Progress Capital was approached about sourcing the funds needed to acquire five multi-family complexes in Newark and East Orange, NJ housing over 100 residential units.
• Challenge: There were a lot of moving parts to this project with five individual multi-family properties.
• Solution: Brad devised a business strategy and negotiated a debt structure that would provide his client with the most favorable terms available and enable him to complete each transaction.
“Our client will be using the funds to acquire the multi-family buildings and complete a renovation, maintaining his value-add approach to his investments” says Brad Domenico.
About Progress Capital Advisors
Progress Capital’s loan programs include 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.