M id A tlantic Real Estate Journal — Thriving Under 40 — August 2024 — 17
www.marej.com
T hriving U nder 40
Progress Capital’s managing director raises the bar with ambitious new goals Brian Anderson builds a legacy in commercial real estate finance with determination and vision
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since joining Progress Capital. What were some of your early goals and did anything happen to change them? My initial goal was to reach $100 million, which I achieved in my second full year. This swift accomplishment made me realize I needed a more ambitious target, so I’ve now set my goal to $1 billion. Given the recent market turmoil my goal time horizon has gotten longer but I will get there. I understand the importance of patience and staying focused on my process. What unique qualities and or personality do you feel
hat is your great- est professional accomplishment?
makes you most successful in your profession? From a young age, I’ve ex- celled at resolving conflicts, beginning as a peer mediator in third grade. Known for my honesty and trustworthiness, I provide clients with straight- forward feedback and advice, while also executing on what I say I can deliver. Who do you feel was most influential in your life when choosing this profession? Definitely my mother, Kathy Anderson and brother, Brad Domenico. I’m fortunate to work with two of the best people in the business every day! MAREJ
Brian Anderson Managing Director Progress Capital Years with company/firm: 7 Years in field: 7 Years in real estate industry: 7
Successfully navigating the past 2 ½ years. These years have been incredibly challeng- ing in sourcing opportunities and closing loans. This experi- ence has taught me the impor- tance of perseverance, never giving up on difficult deals, and consistently supporting both my clients and lenders. What is your most notable project, deal or transaction? My client purchased a retail property in Newington, CT, known as Newington Com- mons. The asset had four ten- ants, with lease terms ranging from 6 months to 3 years, a 15% vacancy rate, and historical en- vironmental issues. Due to the lease roll risk/environmental, no bank or debt fund would fi - nance the deal. After approach- ing nearly a hundred lenders, we secured bridge financing with Life Company and closed in 45 days. How do you contribute to your company and/or the industry? I contribute by generating fees for the firm and upgrad - ing our CRM system to Sales- force, which I now maintain. I also provide honest feedback to colleagues, making myself approachable for any discus- sions about their work and our leadership. Who or what has been the strongest influence in your career? My mother, Kathy Anderson, who founded our company 34 years ago, has been my stron- gest influence. She’s an incred - ible role model in both life and business. I still seek her guid- ance in various situations, as she remains an invaluable re- source and an amazing person. What impact has social media / networking had on your career? Social media and network- ing have been valuable for my career. I regularly attend networking events and am ac- tively working to enhance my presence on LinkedIn. While I’ve made progress, I see great potential in further expanding both my in-person and online networking efforts to maximize opportunities. Tell us how and when you began your career in the profession you are in, about your current position and why you chose the field/ profession you are in today?
I started as a tax accountant, but it wasn’t the right fit for me, though the skills I gained are valuable in my career as a mortgage broker. After leav- ing accounting, I worked in sales for various tech compa-
nies. When the last company I worked for was sold, I decided to join our family business in real estate, a field I’ve been familiar with my whole life. It felt like the natural next step, and I’ve never looked back
CLOSING IS THE POWER OF PROGRESS
BRIAN ANDERSON 732.616.0908 | brian@progresscapital.com www.progresscapital.com
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