4424 North Broad

Details

A $6,650,000 bridge loan for a former 40,000 square foot, freestanding grocery store located in Philadelphia, Pennsylvania. The loan features an initial 12-month interest-only period at LIBOR plus 170 basis points, followed by a three-year fixed rate loan at 3.66% based on a 20-year amortization. The loan was underwritten at 85% loan-to-cost and 78.5% loan-to-value.

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