Dominick Prevete of Blue Sky Capital Advisors Arranges $1,946,000 in Financing for the Refinance of a New Jersey Rental Property Portfolio
Dominick Prevete has arranged a $1,946,000 loan for the refinance of a New Jersey rental portfolio allowing the investor to recover cash out of the portfolio to continue with future investments, while simultaneously reducing the overall cost of capital by obtaining long term debt with a lower interest rate than was previously in place.
“This was an important transaction for us, not because of the size of the deal but also because this particular client has relied on us for their capital needs for many transactions during the past few years. We have grown quite close to this particular client,” Prevete said.
Dominick collaborated with a leading nationwide originator who is a subsidiary of a real estate investment trust. “We have a long standing relationship with our capital partners and they really came through for us again with a reliable and efficient process that exceeded our expectations,” Dominick continued.
The investor was able to recover cash out of the portfolio to continue with future investments, while simultaneously reducing the overall cost of capital by obtaining long term debt with a lower interest rate than was previously in place.
About Blue Sky Capital Advisors: Blue Sky Capital Advisors is a commercial mortgage advisory firm that was founded by Dominick Prevete, who serves as the company's lead originator. Mr. Prevete has forged relationships with 100+ commercial banks nationwide and has affiliate agreements with dozens of institutional private lenders that provide capital to real estate investors. Blue Sky’s client base is diverse and consists of first time real estate investors, small business owners, commercial property owners and seasoned real estate investors.