Progress Residential scores $385M refi for resi portfolio amid federal housing act
Progress Residential, one of the nation’s largest owners of single-family rental homes, landed a $384.7 million refinancing backed by a multi-state residential portfolio that includes homes in Broward County. Goldman Sachs Mortgage Company provided the loan to the Scottsdale, Arizona-based landlord on June 25 at an 83 percent loan-to-value ratio, records show. The total value of the properties is $462.1 million, of which $71.7 million includes 64 residential properties across 14 Broward County cities, including 20 in Fort Lauderdale, 14 in Pompano Beach and seven in Lauderhill. The valuation of the Broward homes amounts to over $1.1 million per home. […]This article originally appeared on The Real Deal. Click here to read the full story.
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