Progress Capital congratulates Managing Director, Brad Domenico on closing a $2,500,000 three building portfolio acquisition loan totaling 18 units in Queens, NY. Our clients had to move quickly to close and the buildings were partially vacant allowing the owner to renovate and reposition the assets. After consulting with the client, Brad designed a hybrid product with a local community bank resulting in a one year bridge loan at 5% with a 6 month renewal option and no exit fee or prepayment penalty.
Progress Capital specializes in arranging 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.
Tell us your commercial real estate financing goals and our team will be pleased to provide a complimentary strategy for your business.