16A — August 2023 — Thriving Under 40 — M id A tlantic Real Estate Journal
www.marej.com
T hriving U nder 40
hat is your great- est professional accomplishment? Successful track record of closing over $1 Billion in transactions annually Gaining insights into the expertise of Progress Capital’s Brad Domenico W Maddd Equities
over $150 Million in directly funded bridge loans. Arranging the capital need- ed for these projects, affects not only on the debt mar- kets, but the real estate sales market as well. With proper financing, more transactions are completed, contributing to community improvement and economic growth. Seeing a building go up in an area in need of redevelopment brings a sense of fulfillment, knowing that my efforts have played a part in changing the neighborhood for the better. Who or what has been the strongest influence in your career? I have to say my mother, because growing up I’ve witnessed her extraordi- nary determination to succeed in commercial real estate, a ‘male-dominated’ industry. As the founder of Progress Capital, I find her to be a great role model. What impact has so- cial media / networking had on your career? The recognition I’ve received in industry publications such as MAREJ, GlobeSt, The Real Deal, NJBIZ, NYREJ, NAIOP, Industry Magazine and Commercial Observer has not only validated my efforts, but also affirms my position as a respected figure within the CRE industry. Some notable titles I’ve re- ceived include “Top Broker of the Year”, “Largest Multifam- ily Acquisition Loan”, “Best Out of State Deal”, “Deal of the Year”, “One’s to Watch-Rising Stars”, “Best Student Housing Project”, “Top Young Debt & Equity Professional”, “Top 25 Under 35”, “Power Player” and “40 Under 40”. These publications are high- ly regarded within the indus- try, making my achievement all the more meaningful and speak of my ability in making a positive difference in com- munities, fostering sustain- able development, and creat- ing opportunities for growth and prosperity. Tell us how and when you began your career in the profession you are in, about your current position and why you choose the field/ profession you are in to- day? After graduating, I went to work on Wall St. shortly before the financial crisis and was fortunate enough to build continued on page 24A
Brad Domenico Partner Progress Capital Years with company/firm: 10 years Years in field: 13 years Years in real estate industry: 13 years Industry affiliations / Philanthropic
• $113 Million for an 816,000 SF office portfolio in Newark, NJ for Hanini Group/SHIFT Capital How do you contribute to your company and / or the industry? After recognizing the need for accessible capital in real estate transactions, I spearheaded the launch of Progress Direct in 2016. This direct lending platform aims to bridge the gap between traditional financing avenues and the evolving needs of real estate professionals. Progress Direct has successfully closed
Continually closing over $1 Bil- lion in transactions annually. What is your most notable project, deal or transaction? I’ve been fortunate to have many, but a few stand out: • $197 Million acquisition loan for Vision Properties/ Hana Financial for the pur- chase of 70 Hudson Street in Jersey City • $130 Million refinance of the Memorial Sloan Ket- tering Cancer Center on 330 East 62nd Street, NYC for
initiatives: Monmouth University’s Kislak Real Estate Institute, the Appraisal Institute Education & Relief Foundation, Robert Wood Johnson University Hospital Foundation, Emmanuel Cancer Foundation, Spectrum 360 and CPC Behavioral Healthcare.
IS THE POWER OF PROGRESS
$60,500,000 ACQUISITION
$42,500,000 REFINANCE
$39,000,000 ACQUISITION
$26,250,000 CONSTRUCTION
BRAD DOMENICO 732.720.6304 | brad@progresscapital.com
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