Brad Domenico, VP at Progress Capital arranged a $4,200,000 loan package for Windsor Lakes Estates, LLC. The proceeds were used to refinance and restructure the current mortgage to allow for construction at The Estates at Fox Hollow in Sparta, NJ.
On behalf of his client, Brad Domenico met the challenges involved in negotiating a favorable construction revolver which allowed Windsor Lakes Estates to accelerate the development of homes on the remaining lots in the community. The client was extremely satisfied with the terms of the loan package needed to secure the exclusive property sites. Many lots are situated on a lakefront, creating breathtaking views for a dream home with the finest detail and workmanship.
The entire community is comprised of 49 lots/units, 33 of which have been improved with corresponding high-end homes and delivered to individual home owners. The requested mortgage refinance was secured by the 16 remaining lots; seven of which are highly desirable lakefront properties.