PROGRESS CAPITAL | Passaic County, NJ – $6,200,000
14704
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Passaic County, NJ – $6,200,000

Category
Multi-Family
About This Project

$6.2 Million Financing for 32 Property Portfolio

 
A client of Progress Capital had been investing and rehabilitating distressed 2-6 family residential buildings in Passaic County, NJ over the past five years. When the client wanted to buy out his investing partners, he approached Brad Domenico for financing advice.
 
Brad and his team went through all of the possible options of breaking down the properties and understanding their client’s real estate portfolio. After much thought, Brad found it best for his client to establish a tranche of assets to secure the most favorable financing. After pairing the client with a great lending partner, Brad was able to secure the following financing terms for the 32-property portfolio:
 
Loan Amount: $6,187,500
Interest Rate: 4.375%
Term: 10 years
Amortization: 25 Years
Pre-Payment: 3-3-2-2-1
 
“Progress did a terrific job helping me secure the proper financing, which enabled me to recapitalize my investors and myself. At first, I was not sure if we were going to be able to find a lender to finance all 32 properties, but Brad and his team quickly identified the precise lender and managed the entire process from start to finish. Once again, Progress delivered for me!” – Levi
 
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.