Progress Capital arranged a 7-year fixed rate loans at 3.75% on a 16,807 sf retail pharmacy building sub-leased to CVS. The borrower will use proceeds of the loan to pay-off the outstanding balance of the current mortgage loan on the property, as well as pay pre-payment penalties and associated closing costs. The remainder represents a recovery of available equity which the principals will use to fund future real estate related opportunities.
Progress Capital Advisors’ loan programs include Construction, Fixed Rate Loans and Specialty Financing, as well as Directly Funded Bridge Loans. With over $40 Billion in closed loans and $150 Million in direct lending, we will get you to the closing…plain and simple…#thatsPROGRESS