PROGRESS CAPITAL | Newark, NJ – $2,100,000
15703
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Newark, NJ – $2,100,000

Category
Multi-Family
About This Project

 

75% LTV on Newark Multi-Family Property

 
Newark, NJ Brad Domenico of Progress Capital Advisors arranged $2,100,000 in financing for a multi-family asset with 25 rental units on Goldsmith Avenue.  The borrower, having previously renovated and repositioned the aforementioned property, will use the proceeds of the loan to refinance the existing debt, recapture $600,000 in equity and cash-out $200,000.  The proceeds will be used to fuel the continued expansion of our client’s robust portfolio.
 
Terms of this loan include:

• 75% LTV
• 3.875% Fixed for 5 Years
• 10 Year Term
• 30 Year Amortization
• Declining Pre-Pay

 
Progress Capital Advisors 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 – #thatsPROGRESS
 
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