Progress Capital Arranges $8M Acquisition Loan for Dallas Apartment Complex

DALLAS — New Jersey-based mortgage banking firm Progress Capital has arranged an $8 million acquisition loan for Crossings at Lake Highlands, a 98-unit apartment complex in the Lake Highlands area of Dallas. The property offers amenities such as a pool, outdoor kitchen, coffee bar and a dog park. Abe Mann of Progress Capital placed the nonrecourse loan, which was structured with a three-year term plus two one-year extension options and a 78 percent loan-to-cost ratio, through a national debt fund. The borrower, RFM Property Group, plans to implement a capital improvement program.

Content Partners
‣ Bohler
‣ Lee & Associates
‣ Lument
‣ NAI Global
‣ Walker & Dunlop

Webinars on Demand


Subscribe to the newsletter

Read the Digital Editions

Midwest Multfiamily & Affordable Housing Business

Western Multfiamily & Affordable Housing Business

Texas Multfiamily & Affordable Housing Business

Southeast Multfiamily & Affordable Housing Business

Heartland Recent Issue

Northeast Recent Issue

Southeast Recent Issue

Texas Recent Issue

Western Recent Issue

Shopping Center Business

California Centers

Student Housing Business

Seniors Housing Business

Featured Properties  

2021 Finance Insight Video Interviews