Atwater #1

Details

A $27,000,000 loan for the acquisition and land development of the Atwater South parcel, located immediately adjacent to the Malvern/PA-29 Interchange of the Pennsylvania Turnpike. This loan will be used for the horizontal development of 549 building lots to be sold to Ryan Homes. It was structured as a three-year interest-only loan and, significantly, it features a completion-only guarantee to the sponsor.

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