BRAD DOMENICO AND HIS MORTGAGE LENDING TEAM CLOSED OVER $1 BILLION IN COMMERCIAL REAL ESTATE DEALS PREPANDEMIC AND THEY HAVE NO PLANS OF SLOWING DOWN
BY JESSICA JONES GORMAN • PHOTOS BY TOM ZAPCIC
Founded by Kathy Anderson in 1990, when many banks were failing and borrowers were left without options to purchase or develop commercial real estate, Progress Capital a commercial real estate advisory firm located in Tinton Falls filled a crucial void in the property investment market. Three decades later, the company is still going strong, providing capital solutions to owners of commercial real estate.
“It is not easy to navigate the lending options available if you want to purchase, refinance, or develop an apartment complex or office building,” noted Brad Domenico, a partner in the business and the founder’s son. “Progress Capital is your advocate to negotiate the best financing options available. As we like to say, ‘You Dream It, We Finance It.’”
Domenico joined Progress Capital in 2013. He was drawn to the family business, he explained, because of his fervent passion for real estate and getting to witness the fruits of his work every time he drives down the road.
“I went to work on Wall Street shortly before the financial crisis and planned on becoming an investment banker specializing in real estate,” he said. “My mother encouraged me to join the family business instead and build a solid foundation for myself. Today I feel very accomplished every time I see a building going up that I financed in areas in need of redevelopment. I may not be hammering the nails, but the funds I arrange helped make it possible.”
Domenico started from the ground up, grinding and scraping to get deals done. But as the business boomed and expanded, he began assembling his dream team, a process that continues today.
“I’ve been building and refining my team for the past five years now, and we’re still in expansion mode,” said Domenico. “I’m proud of how we’ve diversified each member brings vital skills to the table, and together we are a powerhouse in this industry.”
Domenico’s team is made up of three integral players: Frank Stanislaski, Gabby Cali, and John Libretti.
“Frank was working at a local bank when I met him and wanted to be challenged,” said Domenico. “I knew he would be a good fit when he mentioned he was a firefighter. I figured if he has a passion for running into burning buildings and saving people, imagine what else he is capable of. Turns out I was right. Frank is my right hand man and manages the entire team.”
Gabby Cali came from a local real estate company. “She is young and energetic and keeps everything organized,” noted Domenico. “She knows every detail of the loans she is working on. Gabby’s background as an athlete confirmed that she is team oriented and driven.”
John Libretti joined fresh out of college with a degree in finance. “I could tell immediately that he was eager to learn and grow with the company. His energy, hard work, and hunger for success made him a great choice for our team.”
Pre-COVID, Domenico’s team closed over $1 billion in transactions over a 12-month period. During the pandemic, they doubled down on marketing efforts and overall communication with clients, and they expect their biggest year to date in 2021 as a result.
“It takes a lot of Zoom meetings to make those numbers,” Domenico laughed, defining his team’s secret to success as simple yet salient.
“Without my team I couldn’t do what I do,” he said. “My team is tight and we all look out for each other. They are all self-motivated toward success, so my job is to keep the energy high. We’re lucky that a lot of employees here are around the same age, so everyone is determined to work hard and achieve the same goal success. We feed off each other’s energy.”
In the future, the partner hopes to build his team and business even further.
“I am so fortunate to be able to do a job I love while seeing my family every day,” he said. “My wife and I welcomed a baby boy last year so now a lot of what I do is with him in mind.”
And the best way to continue to foster Progress Capital’s growth?
“We plan to continue to stay true to our commitment of providing clients with reliable financing, honest advice, and expert execution in order to help them achieve their financial goals,” he concluded. “Each year, Progress continues to grow as we add new team members, new clients, and as of this winter, a third location in Florida. We don’t have any plans of slowing down.”
620 Tinton Avenue, Tinton Falls / 732.389.9701 / progresscapital.com