PROGRESS CAPITAL | Newark, NJ – $2,925,000
16495
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Newark, NJ – $2,925,000

Category
Multi-Family
About This Project

Brad Domenico Arranges $2.925MM for Acquisition of Two Newark Multifamily Assets

 
Newark NJ – Brad Domenico of Progress Capital Advisors arranged a $2,925,000 non-recourse loan for a valued client to acquire two multifamily buildings on Mt. Prospect Ave in the Mount Pleasant neighborhood in the North Ward section of Newark.
 

“Newark is on fire right now – we are advising all of our clients to explore acquisitions throughout the city as Newark is poised for major growth,” mentioned Domenico.

 
The two properties, one a four story brick apartment building with 29 residential units and the second a three story brick building with 22 residential units, are 95% occupied at the time of acquisition. This loan represents a 75% Loan to Purchase Price.
 
Additional details of this loan include:
 

  • 3.625% Fixed for 7 Years
  • 12 Year Term
  • 30 Year Amortization
  • Non-Recourse
  • 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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View Press Release
 
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