6991 North Park Drive

Details

A $6,000,000 construction loan for the redevelopment of a 36,700 square foot office building located in Pennsauken, New Jersey. The sponsor obtained a ten-year lease from Virtua Health for about 75% of the building. The 30-month loan was priced at LIBOR plus 300 basis points and was underwritten at 75% of the stabilized value.

RELATED PROJECTS