Anda di halaman 1dari 2

Progress Capital Secures $16 Million for Lehigh Student Housing Portfolio

Bethlehem, PA, August 17, 2019 --( Brad Domenico arranged $16,000,000 in financing for a
valued client to acquire a 44 unit, 219 bed, multi-site Student Housing Portfolio adjacent to Lehigh
University in Bethlehem, PA.

Student Housing is known to be recession resilient and offers a degree of stability that is seldom present
in other real estate sectors, particularly during periods of market volatility. The rare opportunities
available to purchase these property types is the exact reason the client was eager to lock in financing and
secure this deal. Furthermore, because of the property's topography, situated between a mountain and the
Lehigh River, there is little room for new construction.

The client's long-term goal is to use advances in technology and professional management to grow and
professionalize the off-campus Student Housing portfolio, which has been traditionally operated as a
“Mom and Pop” business.

Brad worked with Ladder Capital who provided 3 years interest-only, non-recourse, 75% LTV with a
fixed rate of 4.75% for 10 years based on a 30-year amortization. These factors enabled the client to
proceed with his business plan to continually improve and enhance the value of the property by
minimizing expenses and maximizing returns.

The Lehigh Valley is located approximately 60 miles north of Philadelphia, 80 miles northeast of
Harrisburg and 90 miles west of New York City. It is centrally located in the Northeast Megalopolis with
ease of access and close proximity to several of the largest markets, population centers, airports,
terminals, railways and seaports in the United States including both the New York and Philadelphia
metropolitan areas.

Progress Capital is a leading Commercial Mortgage Brokerage Firm specializing in arranging debt for
commercial real estate owners, operators and developers. Since 1990, Progress has successfully closed in
excess of $40 Billion in commercial loans and directly funded over $150 Million.

We get you to the closing table...Plain and Simple. #thatsprogress

For more information visit

Page 1/2 Press Release Distribution Terms of Use
Contact Information:
Progress Capital
Kim Bruno
Contact via Email

Online Version of Press Release:

You can read the online version of this press release at:

News Image:

Page 2/2 Press Release Distribution Terms of Use