8C — October 30 - November 12, 2015 — Executive Women in Business — M id A tlantic
Real Estate Journal
www.marejournal.com
Executive Women in Business
Kathy Anderson, Progress Capital Advisors My clients can count on me to get to a successful closing... plain and simple
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cycle. Construction lenders are likewise lowering loan to cost ratios and putting a focus on understanding true equity vs market value equity. Lastly, construction funds for condo- miniums were readily available earlier in the year and have be- come less available as Lenders feel their exposure levels in the for sale market are at capacity. What impact has social media/networking had on your business? In my industry, social media and networking are critical to business growth and cli- ent confidence. Progress has increased our marketing team by hiring interns to bring a new and fresh perspective to social media platforms such as Linke- dIn. As industry news outlets become more prevalent, it is important to make sure that Progress is positively featured as often as possible. My Mar- keting Director also makes cer- tain that we are represented at important industry events and has scheduled me for numer- ous speaking engagements. I most recently spoke at the EisnerAmper Private Equity Summit in NYC and was inter- viewed on Bloomberg Radio to discuss commercial real estate financing trends. What future opportuni- ties do you see for personal and professional growth? I have been working with several family offices and real- ize there is a need for trusted advisors, including a firm ex- perienced in commercial real estate investments and capital requirements. For me, it is particularly gratifying to work with multiple generations to ensure their legacy continues to strengthen. In 2013, I was very fortunate to have my own son, Brad Domenico, join Progress Capital and we are growing the business together. Many family offices appreciate the fact that we, ourselves, live the family dynamic daily. What qualities/personal- ity traits make you most successful? My clients can count on me to be confident and calm in the face of TOE closings and deadlines. Every loan requires a willing borrower and a will- ing lender whose interests are not necessarily aligned during all aspects of the process. It’s my role to bring those gaps into focus so both sides can come to a middle ground and a successful closing…. plain and simple. n
hat are you most proud of profes- sionally in 2015?
How do you see com- mercial real estate trends changing? Earlier this year, I must admit that lenders were more aggressive with credit under- writing and loan approvals. As we approach year end, I am seeing a shift in the mar- ketplace. Lenders are doing more due diligence and really focusing on interest rate stress models as the reality of interest rate hikes grow closer. I was recently informed by a Lend- ing source that they are now limiting cash out refinancing to 65% LTV to prevent over leverage going into the next
Kathy Anderson President/Founder Progress Capital Advisors Years with company/firm: 25+ Real estate affiliations: Regal Bank, Lexington Advisors, LLC Email: Kathy@progressnj.com
I have arranged a larger number of construction loans in 2015 than in previous years. Some of these loans have been for clients who were negatively impacted by the last finan- cial crisis, and to help them rebuild their stalled projects along with their reputation is very rewarding. Some of these clients are experienced developers who just got caught with too much inventory at the wrong time. All in all, we have established very strong rela- tionships with our clients and
have become the outsourced fi- nancing arm for many of them. In addition to our traditional business of commercial mort- gage placement, we have also
developed a direct lending platform for short term bridge loans and have deployed over $25 million this past year which is exciting.
THE FUNDING SOURCE
(Forward) (Experts) = PROGRESS CAPITAL ADVISORS + + (Financing)
25 Years of Solutions | $40 Billion in Financing | $100 Million in Direct Loans Fixed Rate Loans | Construction Financing | Specialty Financing | Direct Funding
Progress Capital Advisors
Phone: (732) 389-9701 www.ProgressCapitalAdvisors.com
The Funding Source
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